KOHL EXTENDS FARM BANKRUPTCY RELIEF AND FIRMS UP FARM CREDIT PROGRAM

WASHINGTON -- U.S. Senator Herb Kohl amended the Supplemental Appropriations bill yesterday extending bankruptcy relief provisions to protect Wisconsin's family farmers and securing an additional $1.1 billion for the Farm Credit Program. Kohl also provided an additional $43 million for the Farm Services Agency intended to expedite the processing of loans to farmers, farm credits and other USDA farm programs.

"Today was a good day for Wisconsin's family farmers," Kohl said. "During these trying times, our farmers need all the help we can get them. In addition to the $1.1 billion in new loans available for farmers this year, we also extended bankruptcy relief for an additional six months. Wisconsin's family farmers need help and help is on the way."

The bankruptcy provision, known as Chapter 12, allows family farmers to hold onto their farms while they reorganize their finances. The provision was due to expire on April 1, 1999. Kohl's amendment to the Supplemental Appropriations bill extends the deadline until September 30, 1999.

Senator Kohl is the ranking member of the Agricultural Appropriations Subcommittee.