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Farm Credit for Americans Act introduced in Senate

Legislation has been introduced in the U.S. Senate to make foreign individuals and entities ineligible to obtain financial services through the Farm Credit System.

Iowa Republican Chuck Grassley and Ohio Democrat Sherrod Brown are co-authors of the Farm Credit for Americans Act, which Grassley calls a commonsense step to ensure foreign buyers, like those backed by China, aren’t taking prime land away from American farmers.

“It poses a potential threat to our food supply, and by extension to our national security.”

He says foreign investment in farmland also makes it more difficult for new and beginning farmers to get started, and Grassley expects the next farm bill to address his concerns.

Farm Credit for Americans Act introduced in Senate