Farm Credit sees need for more federal pandemic aid

Many ag groups say more federal aid is needed to mitigate farm losses from COVID-19.

“I would fully anticipate that congress is going to have to come back at this later.”

Todd Van Hoose, CEO of Farm Credit Council, says they are thankful for the much needed $19 billion aid package from the USDA and is encouraging swift action to replenish the Paycheck Protection Program.  

“I think most people in congress even acknowledge that if they can get the short-term refunding package done this week and then come back in the first week of may into session, they will rapidly be looking at another assistance package.”

During a conference call with reporters Tuesday, regional Farm Credit CEO’s said their system institutions are well capitalized and financially strong, but they want to see more aid for their struggling farmer members.

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