The House, on a voice vote, Thursday approved $1.1 billion for additional backing for guaranteed farm loans as part of a larger measure to pay the cost of military operations in Yugoslavia.  The $1.1 billion also is part of the supplemental appropriations bill.  That will require a merger of the two measures in conference.

In a statement issued Thursday, Agriculture Secretary Dan Glickman again emphasized the need for the additional loan support funds.  Use of USDA's direct and guaranteed farm loan programs has increased 65% this year over last year's levels.  USDA now has more than 12,000 loan applications pending for direct and guaranteed operating loans, for direct and guaranteed farm ownership loans and for emergency loans, Glickman says.

"As a result, all of these direct and guaranteed farm loan programs as well as emergency loans are now out of money, and guaranteed operating loans will be out of money by the end of May," he adds.  "Every day USDA receives 150 more loan applications for about $10 million, and every day Congress fails to approve the President's requires, 150 more farmers do not get the financing they need to stay in business."

President Clinton asked Congress for $152 million in emergency supplemental funding for farm credit and staffing needs.  Since Congress has not approved the supplemental appropriations bill, "we are unable to fund the loan requests of thousands of farmers and ranchers," says Glickman.