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Franken bill to help farmers awaits Trump's signature

WASHINGTON--A bipartisan measure authored by Sens. Al Franken, D-Minn., and Chuck Grassley, R-Iowa, to support struggling family farmers has passed Congress and is headed to the president's desk for his signature, according to a news release from...

WASHINGTON-A bipartisan measure authored by Sens. Al Franken, D-Minn., and Chuck Grassley, R-Iowa, to support struggling family farmers has passed Congress and is headed to the president's desk for his signature, according to a news release from Franken's office.

The Family Farmer Bankruptcy Clarification Act of 2017, which cleared the House of Representatives and passed with more than 80 votes in the Senate, will enable family farmers in Minnesota, Iowa and across the country to get a fairer shake when they fall on hard times, according to the release.

In 2005, Congress passed a measure to address the unique financial situations of family farmers reorganizing their assets following bankruptcy. However, a 2012 Supreme Court ruling found the 2005 law, as written, failed to achieve Congress' express goal of helping family farmers.

Grassley and Franken's Family Farmer Bankruptcy Clarification Act of 2017 clarifies the law's intent and by ensuring that it protects family farmers.

"This bipartisan bill is the product of two Midwest farm state senators working together in a bipartisan way to support our family farmers," Franken stated in the news release. "This is a common-sense fix that will give farmers in Minnesota and across the country a fairer shake when they fall on hard times, and I'm glad to see that it's set to become law. Our legislation will help ensure that farmers-who are some of the hardest-working folks in the country-can repay the debts they owe without sacrificing their families' futures."

Related Topics: FARMING
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