Robert Smith: “Mr. Speaker, we have problems in farm country. Prices have declined for farmers and ranchers. Many producers are…”

“Mr. Speaker, we have problems in farm country. Prices have declined for farmers and ranchers. Many producers are wrestling with multiyear crop losses and others are suffering as a result of this year's severe adverse weather. Feed is expensive, livestock prices are down and, in some parts of the country, forage is virtually nonexistent. For this reason, I rise today in support of Senate 2344, the Emergency Farm Financial Relief Act. This legislation was originally introduced in the House, cosponsored by 50 farm state members. Senate 2344 will allow farmers the option of receiving all of the Agricultural Market Transition Act payments for the year 1999 immediately after the beginning of the fiscal year. Annual payments are now made twice a year, in December or January, and again in September. This means a farmer may elect to receive all his 1998 and 1999 payments in October this year. The bill would make $5.5 billion available to farmers as much as 1 year early to help them cope with the cash shortage that they now are experiencing due to low prices.”