source avatarThe Wolf Of All Streets

Share

Sen. Josh Hawley says he voted no on the Clarity Act to protect Missouri farm loans from small-town banks. The Senate failed cloture 49-50 on Sept. 15, 11 votes short of the 60 needed. Hawley was one of four Republicans to vote no, with Susan Collins, Jerry Moran, and Thom Tillis. Hawley on the vote: "My concern is all to do with farmers in my state." "Ag is our No. 1 industry in Missouri." He said farmers are "so concerned that they won’t be able to get loans for their farms from small town banks," because "investors will leave those banks and pursue the yields that are available under the bill." At the same time, Hawley said he is otherwise in favor of the bill. His "big issue" is "the small town banks, and particularly as it affects farmers." Missouri farmers "don’t get loans from Wells Fargo or Chase," he said. "They’re getting loans from our local bank that has one little branch." Hawley said Sen. Jerry Moran, who also voted no, "has language that would fix this," and that the fix "seems like something that’s pretty doable." Tillis, a bill sponsor, changed his vote at the 11th hour. Hawley first said he did not think Tillis had voted no. Hawley: "We’ve got to make sure that those banks stay in operation, stay competitive and with enough capital to make loans. Our economy will collapse. That’s my big issue." A U.S. senator just said yield on a crypto bill could collapse a farm-state economy.

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.