Investing in Rural America
Rural communities across the country are struggling to retain population, much less attract future generations. The good news is, there are ways Congress can support them. One way we can do that is by eliminating unnecessary regulatory barriers to capital investment, particularly on critical community facilities like hospitals, childcare centers, and senior care centers. This week, I was proud to reintroduce the Investing in Rural America Act to provide critical capital resources to rural communities through improvements to the Community Facilities Loan and Grant Program.
This bill encourages investment in rural communities by:
- Restoring and codifying farm credit institutions' eligibility to finance essential rural facilities in partnership with local lenders and the U.S. Department of Agriculture's Community Facilities Loan and Grant Program,
- Placing explicit guardrails around Farm Credit Institution's (FCI's) authorities in financing essential community facilities, including a requirement to offer participation with at least one non-FCI lending institution on any potential project, and
- Requiring a report to Congress on the projects undertaken by FCIs, including the partnerships established between lending institutions for such projects.
I am proud of our strong, rural communities and it is an honor to represent them in Washington. Attracting private sector investment in key community facilities will strengthening our rural communities and encourage future generations to see them as home. |