A bill to amend the Farm Security and Rural Investment Act of 2002 to extend a suspension of limitation on the period for which certain borrowers are eligible for guaranteed assistance.

Mr. Speaker, unfortunately as the result of a death in the family and my need to return to Illinois by Saturday morning for the funeral services, I was unable to cast my votes on the following pieces of legislation. I request that the Record state my intentions on these votes had I been present to vote.

I would have voted ``aye'' for H. Res. 1100, the rule providing for consideration of H.R. 6406, to modify temporarily certain rates of duty and make other technical amendments to the trade laws, to extend certain trade preference programs, and for other purposes.

I would have voted ``aye'' on H.R. 5948, the Belarus Democracy Reauthorization Act of 2006. Passage of the Belarus Democracy Reauthorization Act supports Belarus as an emerging democracy with U.S. assistance by strengthening democratic institutions and processes within the country. Our country has a long history of promoting democracy worldwide and this bill will assist the people of Belarus with foreign aid and the risk of U.S. sanctions should the recent political upheavals and the repression of democratic groups in the country continue.

I would have voted ``present'' in response to the Call of the House. I am sorry to have missed Speaker J. Dennis Hastert's farewell speech. I respect and admire him, and am proud to serve with him in the Illinois congressional delegation. His long tenure as the Speaker of the House is historic, and he will be celebrated as an esteemed statesman.

I would have voted ``aye'' on H.R. 6406, to modify temporarily certain rates of duty and make other technical amendments to the trade laws, to extend certain trade preference programs, and for other purposes. This package contains trade provisions I have supported in the past and will continue to do so in the future. These provisions will help expand the competitiveness of U.S. manufacturers and exporters within the global marketplace.

I would have voted ``aye'' on the Conference Report on H.R. 5682, the Henry J. Hyde U.S.-India Peaceful Atomic Energy Cooperation Act of 2006. India has been a longtime and important ally to the U.S. and U.S. assistance in the development of a civilian nuclear energy program will only cement the strategic partnership between our two countries. With the passage of the cooperation agreement with India the U.S. can be assured the peaceful sharing of nuclear energy technologies under international safeguards while preventing the spread of nuclear weapon information to rogue countries, such as North Korea and Iran.

I would have voted ``aye'' on H.J. Res. 102, making further continuing appropriations for fiscal year 2007. While I am disappointed that we were not able to pass the remaining appropriations bills under regular order, I feel that it is important that we continue to fund our government program at adequate levels until we can address the appropriations bills in the next session of Congress.

Finally, I would have voted ``aye'' on the following bills, considered under suspension of the rules:

1. H.R. 6407--Postal Accountability and Enhancement Act

2. H. Res. 1104--Providing for a severance payment for employees of leadership offices and committees of the House of Representatives who are separated from employment solely and directly as a result of a change in the party holding the majority of the membership in the House

3. H.R. 6060--Department of State Authorities Act of 2006

4. S. 4050--Sergeant First Class Robert Lee `Bobby' Hollar, Jr. Post Office Building Designation Act

5. S. 4093--A bill to amend the Farm Security and Rural Investment Act of 2002 to extend a suspension of limitation on the period for which certain borrowers are eligible for guaranteed assistance

6. H.R. 5304--Preventing Harassment through Outbound Number Enforcement Act

7. S. 3821--COMPETE Act of 2006

8. S. 4042--A bill to amend title 18, United States Code, to prohibit disruptions of funerals of members or former members of the Armed Forces

9. H.R. 6427--To increase the amount in certain funding agreements relating to patents and nonprofit organizations to be used for scientific research, development, and education, and for other purposes

10. H.R. 6428--To authorize the Secretary of the Army to carry out certain elements of the project for hurricane and storm damage reduction, Morganza to the Gulf of Mexico, Louisiana

11. S. 2735--Dam Safety Act of 2006

12. S. Con. Res. 123--A concurrent resolution providing for correction to the enrollment of the bill H.R. 5946

13. H.R. 5946--Stevens-Inouye International Fisheries Monitoring and Compliance Legacy Act of 2006

14. H.R. 4075--Marine Mammal Protection Act Amendments of 2006

Mr. President, today I introduced along with several colleagues legislation that will extend the current waiver of the 15- year term limit on USDA guaranteed loans which will expire on December 31, 2006. Starting January 1, 2007, many producers nationwide will become ineligible for Farm Service Agency, FSA, guaranteed loans. These loan guarantees enable producers to obtain credit to purchase farmland, livestock, feed, seed, farm equipment, and fuel essential to their farming operations. Without the Government guarantee many farmers will be unable to secure operating credit and will be forced out of their livelihood.

The FSA guarantee loan allows lenders to make agricultural credit available to farmers who may not meet the lenders' normal underwriting criteria. Borrowers apply for a guaranteed loan through an agricultural lender who then secures a guarantee from FSA. The guarantee covers up to 95 percent of the loss to the lender of principal and interest on a loan in case of default. Admirably, default rates on these loans are very low at 1.4 percent.

While the 15-year limit on eligibility is intended to graduate producers to commercial credit, we have found that in many cases producers simply are unable to meet lenders' standards without the guarantee. Term limits on guaranteed loans do not adequately take into consideration economic and weather conditions. In recent years, many of America's producers have suffered through high energy costs, droughts and hurricanes. Without this legislation, producers who have suffered through bad years due to these weather and economic conditions will no longer be eligible for loan guarantees they need to continue their operations.

Our bill will extend the term limit waiver until September 30, 2007. This step will help farmers and ranchers nationwide and allow Congress to address term limits on FSA guaranteed loans in the coming farm bill.

Mr. Speaker, I move to suspend the rules and pass the Senate bill (S. 4093) to amend the Farm Security and Rural Investment Act of 2002 to extend a suspension of limitation on the period for which certain borrowers are eligible for guaranteed assistance.

Mr. Speaker, I ask unanimous consent that all Members

have 5 legislative days within which to revise and extend their remarks.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of the bill, S. 4093. This bill will modify the expiration date of a provision of a farm bill dealing with farm credit so that it expires concurrent with the rest of the farm bill. Currently a provision of the farm bill dealing with guaranteed loans for farmers and ranchers expires on December 31 of this calendar year.

The rest of the farm bill, however, does not begin to expire until December 30 of 2007. By passing this bill, we are ensuring that this credit program has the opportunity to be fully debated during the development of the next farm bill. Furthermore, should this provision expire in the next few days, it would create a hardship on the part of those farmers, ranchers, and lenders to whom it would apply.

I ask my colleagues to support this bill so that this credit program which is so important for America's young and beginning farmers has the opportunity to be debated and reevaluated during the development of the next farm bill without causing undue hardship with limited notice to the farmers and ranchers that use this important program.

Mr. Speaker, I urge the passage of this bill, and I reserve the balance of my time.

Mr. Speaker, I yield back the balance of my time.

Mr. Speaker, I rise in support of the bill, S. 4093. This bill will modify the expiration date of a provision of a farm bill dealing with farm credit so that it expires concurrent with the rest of the farm bill. Currently a provision of the farm bill dealing with guaranteed loans for farmers and ranchers expires on December 31 of this calendar year.

The rest of the farm bill, however, does not begin to expire until December 30 of 2007. By passing this bill, we are ensuring that this credit program has the opportunity to be fully debated during the development of the next farm bill. Furthermore, should this provision expire in the next few days, it would create a hardship on the part of those farmers, ranchers, and lenders to whom it would apply.

I ask my colleagues to support this bill so that this credit program, which is so important for America's young and beginning farmers, has the opportunity to be debated and reevaluated during the development of the next farm bill without causing undue hardship with limited notice to the farmers and ranchers that use this important program.

I would also like to thank Michael Hare of my staff for his diligent work in the last week to bring this bill to the floor.

Mr. Speaker, I rise in support of S. 4093. This bill will modify the expiration date of a provision of the farm bill dealing with farm credit so that it expires concurrent with the rest of the farm bill. Currently, a provision of the farm bill dealing with guaranteed loans for farmers and ranchers expires on December 31 of this year. The rest of the farm bill, however, does not begin to expire until September 30, 2007. By passing S. 4093, we are ensuring that this credit program has the opportunity to be fully debated during the development of the next farm bill. Should this provision expire in the next few days, it could create hardship on the part of those farmers, ranchers and lenders to whom it would apply. I ask my colleagues to support S. 4093 so that this credit program, which is important for America's young and beginning farmers, has the opportunity to be debated and reevaluated during development of the next farm bill without causing undue hardship with limited notice to the farmers and ranchers that use this important program.