IARN — As conversations over the 2023 Farm Bill intensify in the coming months, all corners of the farming economy will watch the debate very closely for a variety of reasons. But what about the ag lending community? Ed Elfmann, Sr. Vice President for Ag and Rural Banking Policy for the American Bankers Association in Washington, D.C., said they will watch the Farm Bill debate to understand how the new legislation will impact farm loans. Some have expressed concerns that because of the large amounts of ad hoc payments over the past couple of years, future payments could be limited. However, Elfmann said that he’s not worried about moving away from ad hoc.
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