Three Decades Later, CCC Borrowing at 56% Loss

WASHINGTON, DC – New legislation would give a much-needed boost to the Commodity Credit Corporation’s (CCC) annual borrowing limit, providing USDA greater flexibility in maintaining farm bill programs, helping stabilize domestic agricultural markets, and bringing the CCC’s borrowing limit in line with its inflation-adjusted value. The measure (HR843) would raise the CCC’s borrowing limit to $68 billion, a $38 billion increase from a value established 34 years ago. According to the American Farm Bureau Federation (AFBF), the CCC has provided funding to help farmers and ranchers through farm bill program payments, including conservation and rural development, as well as supplemental funding for nutrition programs. In addition, much of the Coronavirus Food Assistance Program (CFAP) payments originated from the CCC, as did the Market Facilitation Program (MFP) and other disaster payments.