AGRICULTURE
NEWS OUT% OF
THE
CAPITOL.
% A BIPARTISAN
PACKAGE
OF
BILLS% HAS BEEN
INTRODUCED
AIMING
TO
% HELP
FAMILY
FARMERS
OF
ALL
AGES,
% INCLUDING
REDUCING
STUDENT LOAN
% DEBT FOR
NEW
FARMERS
AND
HELPING
% OLDER FARMERS PLAN
FOR
THE NEXT
% GENERATION TO TAKE
OVER.
% ONE OF
THE
COSPONSORS
IS
% REPUBLICAN
SENATOR PATRICK
% TESTIN,
WHO
JOINS
US
NOW
FROM% STEVENS POINT.
% THANKS FOR
YOUR
TIME
TODAY.% >>
GREAT TO BE
ON.
% >>
WHAT'S
DIFFERENCE ABOUT
% HANDING DOWN
THE
FAMILY FARM
% THAN
IN
THE
PAST
AND
HOW
WILL
% THIS
BILL
HELP
THAT?
% >>
WELL,
FARM
SUCCESSION,
IT'S A
% REALLY TOUGH
DISCUSSION,
AND
% CURRENTLY RIGHT
NOW
WHEN
YOU
% TAKE A LOOK
AT
THE
AVERAGE
AGE
% OF
OUR
FARMERS,
IT'S
APPROACHING
% 57 YEARS
OLD.
% WE DON'T
HAVE
THAT NEXT
% GENERATION TO
TAKE
OVER
THAT
% FAMILY FARM.
% AS A
RESULT
OF
THAT,
WE'VE
SEEN% A
RECORD
NUMBER
OF
BANKRUPTCIES
% OF
OUR
SMALL
FAMILY
FARMS.
% WE
CERTAINLY
DON'T
WANT
THOSE
TO
% DISAPPEAR IN
RURAL
WISCONSIN.
% THEY HAVE
SERVED
AS A
BACKBONE
% OF
OUR
ECONOMY
SINCE
THE
% FOUNDING OF OUR
STATE.
% WE
WANT
OUR
FARMERS TO
HAVE
% THOSE
CONVERSATIONS
AND
WE
THINK
% THE
BILL
IS
GOING
TO
DO
JUST
% THAT SO WE
CAN
ENSURE
SMALL
% FAMILY
FARMS
REMAIN A
STAPLE
IN
% OUR RURAL
COMMUNITIES.% >> IN
THE
PAST
IN
OLDER
% GENERATIONS IT WAS
USUALLY
THE
% OLDEST
SON
WOULD
TAKE OVER
THE% FARM AND
WORK
ON
IT
AND
INHERIT
% AND A LOT OF
THE
OTHER
CHILDREN% MIGHT BE OFF
ON THEIR
OWN.
% NOWADAYS
IT
SEEMS
LIKE
THE
% PARENTS
WANT
TO
SPLIT
IT
UP
% EVENLY
AND THAT US
!
CAUSES
ISSUES
% WITH ONE
CHILD
NOT
BEING
ABLE
TO
% AFFORD
TO
BUY
OUT
THE
REST.
% WILL
THIS
HELP
THAT?
% >>
WE
HOPE
SO.
% TODAY'S AGRICULTURE ECONOMY
IS
% REALLY BIG
BUSINESS.
% IT'S
INTENSIVE.
% THAT'S
ONE OF
THE
MAIN
REASONS
% WHY YOU'RE
SEEING
LELS
!
SEEING
LESS
AND
LESS
% PEOPLE
TAKING OVER
THE
FAMILY
% FARM.
% IT'S
RIG
WUS
WORK.
% WE
HAVE
LOW
COMMODITY
PRICES.
% WITH
THE
TRADE
WAR GOING
ON, WE
% NEED TO
MAKE
SURE THERE
ARE
% RESOURCES AVAILABLE FOR
THAT
% SUCCESSION, THAT
WHEN
FARMERS
% ARE NEARING
THE END
OF
THEIR
% CAREER AND
THEY'RE
GOING
TO
HANG
% UP THEIR
BOOTS,
THAT
WHEN
THEY% SIT
DOWN,
HAVE
THESE
% DISCUSSIONS,
IT'S
NOT
SO
% DIFFICULT.%THIS IS
WHAT
THIS
BILL
AIMS
TO
% DO IS
START
THAT
PROCESS, LAY
% OUT A PLAN
AND
ENSURE
THAT
WHEN% THEY HAND DOWN THE FARM TO
% EITHER A FAMILY
MEMBER
OR
% SOMEONE
ELSE,
THAT
IT'S A
SMOOTH
% TRANSITION.%>> YOU
MENTIONED
THE
TRADE
WAR.
% HOW
HAVE DONALD
TRUMP'S
% AGRICULTURE
TARIFFS
AFFECTED
% FARMERS
IN
YOUR
DISTRICT?
% >>
I'VE
HAD A
LOT
OF
% CONVERSATIONS WITH REMEMBER
% FAKERS
!
WITH
FARMERS
THROUGHOUT
THE
DISTRICT.
% MANY ARE TRYING
TO
GIVE
HIM
THE
% BENEFIT OF THE
DOUBT.
% THEY
WANT
FREE
TRADE, FAIR
% TRADE.
% THEY'RE
OPTIMISTIC,
HOLDING
OUT
% THAT WE CAN
GET
NEW
DEALS
PUT
IN
% PLACE FOR
THE
USMC
AND
NEW
TRADE
% DEAL
WITH
CHINA
TO
ADDRESS
THESE
% ISSUES
AND
ENSURE
THAT
IT'S
% EQUITABLE ACROSS THE BOARD.%
>>
DO
YOU
SUPPORT THIS
PATH
OF
% INTRODUCING TARIFFS TO
FORCE
% THIS
ISSUE?
% >>
WELL,
REALLY,
I
MEAN,
IT'S A
% -- FOR
ME,
I'M A
FREE
TRADE
GUY,
% BUT THIS
IS ONE
OF
THOSE ISSUES
% WHERE I
THINK
FOR
YEARS
% COUNTRIES LIKE
CHINA
HAVE
TAKEN
% ADVANTAGE OF THE
U.S.
% AND SO
IN
THIS
PARTICULAR% INSTANCE I'M
TRYING
TO
GIVE
THE
% PRESIDENT THE
BENEFIT OF THE
% DOUBT
TO GO
TO
THE
NEGOTIATING
% TABLE,
HOPEFULLY
HAVE
THE
% CHINESE
GOVERNMENT COME TO THE
% TABLE AND COME
TO AN
AGREEMENT
% ON
NEW
DEALS
IN
THE
BEST
% INTEREST
OF
NOT
ONLY
WISCONSIN,
% BUT
THE
U.S. AS
WELL
A
S
CHINA.% >>
NOW,
OTHER
BILLS
INCLUDE A
% PROPOSAL
TO
HELP
STUDENT
LOAN
% DEBT
FOR
NEW
FARMERS.
% DO YOU
SUPPORT
THAT
BILL?
% IS
THERE
REALLY
STUDENT
LOAN
% DEBT
THAT'S
PREVENTING
FARMERS
% FROM
GETTING
INTO
THIS
INDUSTRY?
% >>
WELL,
STUDENT
LOAN
DEBT'S A% BIG ISSUE.
% I
READ AN
ARTICLE
YESTERDAY
THAT
%
STUDENT
LOAN
DEBT
IS
PUSHING
% AROUND
$23
BILLION.
% WHEN
YOU
LOOK
AT
THE
SIMPLE
COST% TO
GET
INTO
AGRICULTURE,
% HARVESTER
CAN
COST UP
TO
% $500,000.%THAT
IS A
SIGNIFICANT
AMOUNT
OF
% CASH.
% SO THIS
BILL
IS
GOING
T
O
HELP
% ALLEVIATE SOME OF
THE
HURDLES
OF
% ENTRY
INTO
FARMING.
% IT'S
CERTAINLY WORTH
HAVING
THAT
% CONVERSATION AND
SEE
IF
THERE'S
% SUPPORT FOR
IT.
% >>
THERE'S
BEEN A
PUSH
FOR
% LOOKING
AT
STUDENT
LOAN
DEBT
FOR
% ALL
BORROWERS.
% WOULD
YOU
LOOK
AT
THE
ENTIRE
% STUDENT
LOAN
PACK
INDUSTRY?
% >>
IT'S
REALLY
TOUGH
BECAUSE A
% LOT
OF THIS
I
S
D
ICTATED BY
THE
% FEDERAL
GOVERNMENT.
% BUT
IF THERE WERE
WAYS
THAT WE
% CAN
TRY
AND
REFINANCE
LOANS,
I'M
% CERTAINLY OPEN
TO
THAT
% CONVERSATION.
% THE TRICKY
PART
IS
THAT
% STUDENT LOAN
DEBT,
IT'S A
RISKY
% BUSINESS
BECAUSE
WHEN
YOU'RE
18,
% 19 YEARS
OLD
YOU
DON'T
HAVE A
% LONG
CREDIT
HISTORY.
% THAT'S A
HUGE
RISK.
% IF WE COULD
FIND A
PROPOSAL
THAT
% IF THERE'S
BEEN A
FISCALLY
% RESPONSIBLE
BORROWER
WHO
HAS
HAD% A
STRONG CREDIT
HISTORY,
MAYBE% THEY SHOULD BE
ABLE
TO
REFINANCE
% THEIR
STUDENT
LOAN
DEBT
AND
% PURSUE
OPTIONS.
% THERE'S BEEN
DISCUSSIONS
THAT WE
% SHOULD
CREATE AN
AUTHORITY HERE
% WITHIN
THE STATE OF
WISCONSIN,
% BUT
THE
TRADEOFF IS
I
S
THAT
IF% WE
WERE TO GO
TO A
STATE
OPTION,
% BORROWERS WOULD HAVE TO
LOOK
AT
% WHAT
THAT
WOULD
MEAN
IF
THEY
% TOOK
THAT
OPTION
BECAUSE
IT
% COULD
MEAN
YOUR
LOSE
YOUR
% INCOME-BASED
REPAYMENT
PLANS
AND
% OTHER
PLANS
PROVIDED
THROUGH
THE
% U.S. DEPARTMENT OF
EDUCATION.% >>
SENATOR
TESTIN, THANK YOU
FOR