WASHINGTON, June 2 -- Sen. John Cornyn issued the following news release:
U.S. Senators John Cornyn (R-TX) and Tim Kaine (D-VA) today introduced the Farm Credit Adjustment Act, which would extend the Farm Credit Administration's (FCA) audit schedule for low-risk institutions from every 18 months to every 24 months. This extension would reduce regulatory burdens and costs for farm credit institutions and ensure they have the bandwidth to deliver for the hundreds of thousands of farmers, agribusinesses, and rural operations they serve.
"Farmers are the backbone of our country, and it's imperative that their operations are not held up by burdensome or arbitrary federal regulations," said Sen. Cornyn. "I'm proud to introduce the Farm Credit A...