Phillip Morgan, President and Chief Executive Officer of Southern AgCredit, a rural lender serving Mississippi and Louisiana, recently testified before the U.S. Senate Subcommittee hearing on Commodity Programs, Credit, and Crop Insurance in support of a 2023 Farm Bill.
Cindy Hyde-Smith (R-Miss), ranking member of the Commodities, Risk Management, and Trade Subcommittee, helped lead the two-part hearing. Part One of the hearing was earlier last week, focusing on the perspective of ag producers and the need for a farm safety net. Part Two of the hearing, held last Thursday, featured a panel of rural lenders, crop insurance agents and providers. Both hearings were conducted in part to assist the Senate Agriculture Committee as it works on the new five-year farm bill. The 2018 Farm Bill expires on Sept. 30, 2023.
Morgan provided testimony on behalf of the Farm Credit Council in support of a strong farm bill.
“Agricultural producers in Mississippi and Louisiana need a strong farm bill, including a robust farm safety net, to manage the ongoing risks presented by weather, markets, supply chain pressures, rising input prices and declining profit margins,” said Morgan.
For complete coverage of the hearing and to download Morgan’s testimony, visit https://www.agriculture.senate.gov/hearings