Let's Keep the Farm in Farm Credit

Farm Credit

The Farm Credit System was created 100 years ago to provide a reliable source of credit for the backbone of American agriculture – independent, small, family-owned farms, often owned by young, beginning and small farmers.

But this government program to sustain American agriculture has spun out of control, lending to huge telecoms, publicly-traded companies and customers seeking loans for vacation homes, tuition, and investments. And as Farm Credit takes on riskier loans and neglects vulnerable farmers, it puts American agriculture and the American taxpayer at risk.

While ordinary Americans and businesses across the country have paid their fair share of taxes, the Farm Credit System has continued to get away with paying a pitifully low tax rate for 2016  3.61 percent.

The South Dakota Bankers Association believes that special tax breaks granted to the Farm Credit System have outlived their purpose and should be eliminated by Congress. Special tax and regulatory breaks have been granted to Farm Credit for decades, giving them an unjustified advantage in the marketplace.

Learn more at Reform Farm Credit.

Questions, contact SDBA President Curt Everson at 605.224.1653 or via email