TBA Voices Opposition to H.R. 4058

In a letter to Chairman Michael Conaway of the House Committee on Agriculture, TBA President and CEO Chris Furlow wrote that TBA opposes H.R. 4058 because it could have the unintended consequence of reducing the availability of livestock loans in our rural and ranching communities. H.R. 4058 would require that "all livestock purchased by a dealer in cash sales and all inventories of, or receivables or proceeds from, such livestock shall be held by the dealer in trust for the benefit of all unpaid cash sellers of such livestock until full payment has been received by such unpaid cash sellers." Although the bill does not appear to be moving at this time, TBA wants to ensure that the Texas delegation knows our position and that the issue is being monitored.