Landry Introduces Market-Based Solution to Help Farmers & Fishermen

Press Release

While other politicians only express disappointment about Washington's delay in passing a Farm Bill, Congressman Jeff Landry (R, LA-03) is proposing innovative solutions to help Louisiana's farmers and commercial fishermen.

Congressman Landry has introduced H.R. 6276 -- the Commercial Fishing, Farm, and Ranch Risk Management Act. This legislation creates an IRA-type savings vehicle for the agricultural and fishing industries. Specifically, H.R. 6276 allows producers to place up to 20 percent of their income into a tax-deferred savings account for up to 10 years. Farmers and fishermen could use these accounts to cover equipment purchases or cover losses during bad years.

"Washington politicians have once again let our farmers down, failing to pass a Farm Bill," said Congressman Landry. "But I'm not going to just wait around for Washington to fix our problems; I'm searching for innovative solutions to help our farmers manage their own risk."

In a letter of support for Congressman Landry's bill -- Clint Guidry, President of the Louisiana Shrimp Association, said: "this is an ideal and much needed vehicle to give American Small Business in these categories flexibility in managing their budgets and spending."

Local farmers also expressed their appreciation for Congressman Landry's efforts. "Congressman Landry continues to fight for us farmers and offers solutions for our concerns. His bill will help our small businesses and family farms today and in the future. We thank Congressman Landry for all his hard work on behalf of farmers," said Dane Hebert, a local rice and crawfish producer and Board Member of the Louisiana Rice Research Board.

H.R. 6276 was referred to the House Committee on Ways and Means.

Source