Thomas Daschle: “During the last decade, the devastating effect of low commodity and cattle prices has affected every household in the…”

“During the last decade, the devastating effect of low commodity and cattle prices has affected every household in the county. Commodity prices at the 1950 levels have contributed to the continuing exodus of our youth to cities for jobs while the age of our farmers and ranchers average in the 60s. Yesterday, the Senate voted 99 to nothing simply to say, with bipartisan emphasis, we hear you. We understand. We know that when prices are this low, you are going to see the consequences as reported in these stories and this letter. Today, we now offer our solutions. This amendment, the one upon which we will be voting briefly, lifts the cap on marketing loans and extends the loan term as one of the most consequential ways with which to respond immediately to the problem of low prices. Why? Because we are giving farmers some flexibility to say, look, if the prices continue this way, I am going to take out a loan for at least 15 months to see if all of the other things they are doing out in Washington and throughout our agricultural economy will give me a better price later on. That is what we are suggesting. Let's give our farmers the opportunity to obtain a better option in the short term. We are talking about farmers' ability to survive the 1 year that this amendment takes place. That is all it is, 1 year. We are not suggesting this be a permanent change to the legislation pending.”