Political Quotes

“this amendment provides $222,000 to cover the cost of additional boll weevil eradication loans. This will correct a shortfall in the fiscal year 1998 appropriation due to an interest rate subsidy miscalculation. The additional amount provided by this amendment will maintain the fiscal year 1997 $40 million loan level in fiscal year 1998. These loans are used to enhance the funding of the Boll Weevil Eradication Program and are made to the participating States' individual Boll Weevil Eradication Foundations. The applications for the loans are not made until April when the need for the actual money during the planting season can be determined by farmers. This procedure is in response to the Farm Services Agency's concerns that the funds be utilized when received rather than deposited for future use. At a recent Mid-South Boll Weevil Action Committee meeting, the committee agreed that applications will be made for the use of approximately $40 million and this money will be needed in fiscal year 1998. Again, I wish to reiterate that this amendment is only for a small amount and is necessary to maintain this program at its current level.”