Agriculture is one of the issues being discussed in the waning days of the campaign for Illinois Treasurer. The Treasurer’s office maintains state funds and acts as the state’s bank.
Republican Tom Cross says he would use that authority to ensure the “Ag Invest” program remains available to farmers.
"Basically Ag Invest is the Treasurer's office coming in and taking state money and letting local banks use it. And then the agriculture community can go and borrow at a lower interest rate than what you would normally get," said Cross.
Cross says the program has not been used much lately because interest rates are low. But he says it needs to be there in case rates rise.
Cross’ opponent is Democrat Mike Frerichs. He says the Treasurer’s office could help farmers transition to more sustainable practices. Frerichs says those transition costs can be high.
"And so the Treasurer's office can make Link deposits to help give access to capitol to those farmers. Because when they move to more efficient machinery, they reduce their inputs. It helps their bottom line," said Frerichs.
Frerichs says he knows Ag issues because he services on the Illinois Senate Agriculture and Conservation Committee.
Frerichs and Cross are vying to replace Dan Rutherford, who’s leaving office after a failed big for governor.
