House OKs Farm Credit Bill
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WASHINGTON — The House quickly approved a bill today to replenish the Commodity Credit Corp. with $5 billion for farm subsidies. The CCC, the Agriculture Department’s bank, ran out of money last week.
The bill, written by a House-Senate conference committee, passed 272 to 141 and now goes to the Senate. Representatives agreed on the urgency of providing more money to the agency, which is in charge of crop loans, deficiency payments and other subsidies. They fought over wording about how much money the Farmers Home Administration can extend in operating loans.
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