Washington, Dec. 18 -- Representative Mike Bost issued the following press release:
U.S. Reps. Mike Bost (IL-12) and Nikki Budzinski (IL-13) introduced legislation Wednesday to remove outdated eligibility barriers that prevent modern family farms from accessing U.S. Department of Agriculture loan programs. The USDA Loan Modernization Act updates eligibility standards to better reflect the structure of today's multi-generational, family-run farms, expanding access to operating, emergency, and real estate loans for producers in Southern Illinois and across the country.
"For too long, USDA loan rules have failed to keep up with the reality of modern farming," said Bost. "Family farms shouldn't be punished for choosing a path that helps them ...