A House Agriculture subcommittee approved legislation Wednesday that would let the Department of Agriculture guarantee loans made to farmers with past credit troubles.

The voice vote by the forestry, resource conservation, and research subcommittee moves the bill to the Agriculture Committee. The legislation, which would give community banks some backing for loans to farmers who otherwise would probably be denied credit, is expected to reach the House floor late this summer.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.