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Farm Credit Supports the Fishing Industry Credit Enhancement Act

WASHINGTON, D.C. – Farm Credit Council President and CEO Todd Van Hoose made the following statement about the Fishing Industry Credit Enhancement Act introduced by Senators Angus King and Lisa Murkowski.

“Senators King and Murkowski are passionate advocates for U.S. fishermen, and we thank them for introducing the Fishing Industry Credit Enhancement Act. Supporting rural communities is a vital piece of Farm Credit’s mission, and this bill will provide more financing options for our rural fishing communities.

“The U.S. commercial fishing industry is under pressure from changing environmental conditions. U.S. commercial fishing operators depend on a wide range of services to operate and compete in domestic and international markets. Farm Credit has a long history of providing credit to U.S. commercial fishing operators.

“Businesses providing services directly to the commercial fishing operators are also impacted by same the pressures as the U.S. domestic fishing industry. These fishing-related businesses need access to competitive financing to maintain service to the U.S. fishing industry.

“We look forward to working with Sens. King and Murkowski on including this commonsense legislation in the upcoming Farm Bill.”

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