Reform Farm Credit

Reform Farm Credit
Reform Farm Credit

The Farm Credit System Is Not Meeting Its Goals

Farm Credit associations are mandated by law to track their loans to young, beginning and small (YBS) farmers. Continue Reading

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Reform Farm Credit

You pay your fair share of taxes. Why doesn’t Farm Credit?

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

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Reform Farm Credit

The Farm Credit System Is Not Meeting Its Goals

You pay your fair share of taxes. Why doesn’t Farm Credit?

FARM CREDIT FAST FACTS

1. RISK

In 1987, the Farm Credit System was bailed out by US taxpayers to the tune of $4 billion. At the time, the FCS was worth $40 billion. Today, the Farm Credit System is worth $321 billion; if FCS needed another bailout, it would cost taxpayers $32.1 billion – an 802% increase from 1987.

2. WASTE

If the Farm Credit System were a bank, it would be the 7th largest in the country – and nobody seems to notice. Its tax advantages, unparalleled access to taxpayer-backed credit, and lack of regulation often leave it as the only source of credit in rural areas.

3. NEGLECT

Farm Credit System loans, far from their mission to support small local farmers, are being used to finance huge multinationals like Verizon, AT&T, Rayonier Inc., Cyrus One Inc. and more.

Reform Farm Credit

The Farm Credit System Is Not Meeting Its Goals

You pay your fair share of taxes. Why doesn’t Farm Credit?

FARM CREDIT FAST FACTS

In 1987, the Farm Credit System was bailed out by US taxpayers to the tune of $4 billion. At the time, the FCS was worth $40 billion. Today, the Farm Credit System is worth $321 billion; if FCS needed another bailout, it would cost taxpayers $32.1 billion – an 802% increase from 1987.

If the Farm Credit System were a bank, it would be the 7th largest in the country – and nobody seems to notice. Its tax advantages, unparalleled access to taxpayer-backed credit, and lack of regulation often leave it as the only source of credit in rural areas.

Farm Credit System loans, far from their mission to support small local farmers, are being used to finance huge multinationals like Verizon, AT&T, Rayonier Inc., Cyrus One Inc. and more.

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