Missouri lawmakers back big expansion of low-interest loans amid growing demand for state aid

JEFFERSON CITY, Mo. — Missouri lawmakers gave final approval Thursday to significantly expand a low-interest loan program for farmers and small businesses, in a move that reflects strong consumer demand for such government aid amid persistently high borrowing costs.that use taxpayer funds to spur private investment with bargain-priced loans.

Malek then backed legislation that would raise the program’s cap from $800 million to $1.2 billion. That bill now goes to Gov. Mike Parson. Not all states have similar loan programs. But neighboring Illinois is among those with a robust program. In 2015, Illinois' agricultural investment program had just two low-interest loans. Last year, Illinois made $667 million of low-rate deposits for agricultural loans. Illinois Treasurer Michael Frerichs recently raised the program's overall cap for farmers, businesses and individuals from $1 billion to $1.5 billion.

Speaker Mike Johnson is being lobbied by his members to raise the threshold required to trigger the procedure to oust the speaker, according to multiple GOP sources – a move that would help ensure the Louisiana Republican can pass foreign aid bills and still keep his job without needing to rely on Democrats to bail him out."And I'm tired of it because I didn't come to this chamber to play games," Crockett said.

Consumer Demand Agricultural Loans

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