Lack of farm bill making planning nearly impossible for lenders and farmers

By Audrey Williams

September 24, 2012 Updated Sep 25, 2012 at 9:41 AM CDT

TRIVOLI, Ill -- After suffering a devastating drought this year, many farmers now face another level of financial uncertainty planning for next year.

The farm bill, which provides many programs and subsidies, is set to expire at the end of the month and Congress has yet to pass an extension or a new 5 year bill. House Speaker John Boehner says a vote on the measure won't come until after the November elections.

Farmers will soon be making financial decisions regarding next years crop and the lack of a farm bill could make that difficult for farm farmers and lenders.

"If you are loaning hundreds of thousands of dollars to a farmer you really need to have a good sense that the inputs are at least protected so in the event of a year like this the farmer is going to be able to re-pay his loan," said Hedden.

Hedden said the level of uncertainty can also hurt the fragile economy, "Knowing at least what the rules were when you go to plant your crops or raise your livestock or whatever, it gives you that confidence to buy things and buy land and buy equipment and really help support the economy."

Republican Congressman Aaron Schock has said the fight over the food stamp program is what has been holding up the bill in the house.

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