A bill introduced by Rep. Austin Scott (R-GA-8) would raise the borrowing limit for the Commodity Credit Corporation (CCC) from the current limit of $30 billion to $68 billion.
Much of the Coronavirus Food Assistance Program (CFAP) payments came out of the CCC, as did the Market Facilitation Program payments and disaster payments. In September 2020, the funds were running low, and there was concern the CCC would not be able to make farm bill program payments and provide any future CFAP assistance.
American Farm Bureau Federation President Zippy Duvall recently shared with Agriculture Secretary nominee Tom Vilsack how important it is to raise the CCC’s borrowing ceiling to continue to provide farmers and ranchers the support they need.
