Washington, D.C. - Today, Congresswoman Fischbach (MN-07) introduced the Investing in Rural America Act to provide critical capital resources to rural communities through improvements to the Community Facilities Loan and Grant Program.
"Rural communities across the country are struggling to retain population, much less attract future generations. One way Congress can support them is by eliminating unnecessary regulatory barriers to capital investment, particularly on critical community facilities like hospitals, childcare centers, and senior care centers," said Rep. Fischbach (MN-07). "I am proud to reintroduce the Investing in Rural America Act to attract private sector investment in these kinds of facilities, strengthening our rural communities and encouraging future generations to see them as home."
“Rural communities across southern Minnesota rely on partnerships between the Farm Credit System and local lenders to receive the resources necessary to improve and expand essential facilities, such as rural hospitals,” said Rep. Finstad (MN-01). “I joined Congresswoman Fischbach in reintroducing the Investing in Rural America Act, which ensures rural America has access to the capital they need to strengthen existing resources and remain the best places to live, work, and play for generations to come.”
“The Investing in Rural America Act aims to unlock the significant potential of our rural communities. We can better support rural America by prioritizing economic growth, improving infrastructure, and investing in essential community facilities,” said Congressman Don Davis (NC-01).
Background: The Investing in Rural America Act encourages investment in rural communities by:
- Restoring and codifying farm credit institutions' eligibility to finance essential rural facilities in partnership with local lenders and the U.S. Department of Agriculture's Community Facilities Loan and Grant Program,
- Placing explicit guardrails around FCI's authorities in financing essential community facilities, including a requirement to offer participation with at least one non-FCI lending institution on any potential project, and
- Requiring a report to Congress on the projects undertaken by FCIs, including the partnerships established between lending institutions for such projects.
This bill has the support of the Farm Credit Council, National Rural Health Association, American Psychological Association Services, National Association of Community Health Centers, the Minnesota Association of Community Health Centers, and AgCountry Farm Credit Services.
These projects are critical to the long-term success of the rural communities we serve,” said Marc Knisely, Executive Vice President Business Development for AgCountry Farm Credit Services. “Our farmer-owners have been clear about the need for childcare, health services, and other infrastructure in their communities. It's our mission to meet our farmers' needs and to strengthen the vitality of rural communities. We thank Congresswoman Fischbach for her leadership and support in these efforts.”
“Many rural and frontier communities continue to face serious challenges in accessing behavioral health care,” said Arthur C. Evans Jr., PhD, CEO of the American Psychological Association Services. “The Investing in Rural America Act provides the essential financial support needed to expand access to mental health and substance use services in rural communities. The American Psychological Association Services applauds Reps. Fischbach, Finstad, and Davis for their leadership in reintroducing this bill, and we stand ready to assist them in advancing this important legislation.”
"Community Health Centers (CHCs) serve 1 in 5 or 10 million in rural America and deliver local, mission-oriented jobs for 90,000 people at 6,500 rural locations nationwide. CHCs also care for and protect the health of over 1 million agricultural workers, who produce healthy foods for us all. Improving the availability of loans to build and improve rural facilities will assure that these CHCs remain employers and providers of choice for the rural communities they serve and can increase access to care and jobs for more rural Americans. That is why the National Association of Community Health Centers (NACHC) is proud to provide a spirited endorsement of Congresswoman Fischbach's Investing in Rural America Act," said Kyu Rhee, MD, MPP, NACHC’s President and CEO.
"Community health centers provide access to primary care medical, dental and behavioral health services to thousands of Minnesotans living and working in rural areas. Without this network of health centers, rural Minnesotans would face significant obstacles to key primary care services that keeps them healthy. We thank Representative Fischbach for introducing the Investing in Rural America Act and strongly endorse the proposal. The Act ensures that rural health centers have access to key financing in order to maintain our 60-plus year commitment to rural communities in Minnesota," said Jonathan Watson, CEO of Minnesota Association of Community Health Centers.
“We thank Reps. Brad Finstad, Michelle Fischbach and Don Davis for their commitment to rural communities and for introducing the Investing in Rural America Act,” said Farm Credit Council President and CEO Christy Seyfert. “This legislation ensures that Farm Credit, community banks and other lenders can continue to partner to ensure credit is readily available for rural hospitals, childcare centers, education and other essential rural community facilities. We look forward to working with Reps. Finstad, Fischbach, Davis and other members of the agriculture committee to have this commonsense legislation included in the upcoming Farm Bill.”
“Since 2010 over 180 rural hospitals have closed or ceased inpatient services, in part because of a lack of access to affordable long-term capital. That’s why the National Rural Health Association (NRHA) supports Representatives Fischbach (R-MN) and co-lead Davis (D-NC), Finstad (R-MN), proposal to streamline Farm Credit’s ability to finance rural community facilities and bring more consistent, reliable credit to rural America,” said Alan Morgan, Chief Executive Officer, NRHA
