U.S. Senators Mike Braun (R-Ind.) and Sherrod Brown (D-Ohio) introduced bipartisan legislation on Wednesday that aims to help lower food costs by strengthening the infrastructure and supply chains that farmers and food businesses depend on to get their products to market.
The Food Supply Chain Capacity and Resiliency Act would expand the Department of Agriculture’s Food Supply Chain Guaranteed Loan Program to support new investments in America’s food supply chain by providing low-interest loans to businesses investing in food supply chain operations and prioritizes investments in rural or economically distressed areas.
Braun
“Supporting our Hoosier farmers that put food on the table for Americans is vital to our nation’s food security,” Sen. Braun said. “I’m proud to lead this bill with Sen. Brown to prioritize investments in rural communities in Indiana and across the country so we can maintain a strong domestic food supply chain and lower food costs.”
Disruptions to the food supply chain have affected millions of Americans, from transporters and distributors to consumers at the grocery store. The Food Supply Chain Capacity and Resiliency Act would address the disruptions and lack of capital access by investing in domestic infrastructure for food production, aggregation, processing, manufacturing, storage, transportation, wholesaling, and distribution to increase capacity and create a more resilient, diverse, and secure U.S. food supply chain.
The legislation is endorsed by the National Council of Farmer Cooperatives, the Controlled Environment Agriculture Alliance, the Breakthrough Institute, Regenerate America, National Cooperative Business Association, the American Sustainable Business Network, LandCore, the International Fresh Produce Association, National Fisheries Institute and National Rural Lenders Association.
Click here to read the full text of the bill.