Representative Balderson Plans to Introduce the Rural Equal Aid Act

Representative Troy Balderson plans to introduce the bipartisan Rural Equal Aid Act in the House of Representatives, aimed at supporting USDA loan borrowers during the COVID-19 pandemic. Earlier this month, Senators Tester and Romney introduced similar legislation in the U.S. Senate. This legislation would subsidize payments on loans made under certain rural development loan programs, similar to Small Business Administration (SBA) loans given to urban businesses. The bill would provide six months of payments to current USDA Rural Development program borrowers, including rural businesses and nonprofits, through four USDA loan programs.