The bank industry is applauding a Republican plan to extend nearly $4 billion in emergency aid to farmers hard hit by poor weather and falling crop prices.

House and Senate Republicans unveiled a relief plan Thursday to provide $2.5 billion for disaster recovery and $1.65 billion in direct payments to farmers hurt by low prices and lost exports. If Congress approves the plan, the aid would come in time for farmers to repay bank loans after the fall harvest.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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