Your current location:HOME >opinions >Missouri lawmakers back big expansion of low 正文
TIME:2024-05-21 13:06:40 Source: Internet compilationEdit:opinions
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers gave final approval Thursday to significantly expand a
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers gave final approval Thursday to significantly expand a low-interest loan program for farmers and small businesses, in a move that reflects strong consumer demand for such government aid amid persistently high borrowing costs.
The legislation comes as states have seen surging public interest in programs that use taxpayer funds to spur private investment with bargain-priced loans. Those programs gained steam as the Federal Reserve fought inflation by repeatedly raising its benchmark interest rate, which now stands at a 23-year high of 5.3%.
Higher interest rates have made virtually all loans more expensive, whether for farmers purchasing seed or businesses wanting to expand.
Under so-called linked-deposit programs, states deposit money in banks at below-market interest rates. Banks then leverage those funds to provide short-term, low-interest loans to particular borrowers, often in agriculture or small business. The programs can save borrowers thousands of dollars by reducing their interest rates by an average of 2-3 percentage points.
What's next for Iran after death of its president in crash?2024-05-21 12:51
Company wins court ruling to continue development of Michigan factory serving EV industry2024-05-21 12:30
Who is Jacob Zuma, the former South African president disqualified from next week's election?2024-05-21 12:08
Brazil replaces injured goalkeeper Ederson in Copa America squad2024-05-21 11:52
Why US Catholics are planning pilgrimages in communities across the nation2024-05-21 11:43
Jessica Biel CHOPS her long locks into a bob after book signing in Studio City2024-05-21 11:16
Strictly star Giovanni Pernice's former partner Rose Ayling2024-05-21 11:07
Amir Khan's £11.5m luxury wedding venue finally hosts its first marriage: Bride arrives on horse2024-05-21 10:49
Supreme Court rejects an appeal from a Canadian man once held at Guantanamo2024-05-21 10:32
Bella Hadid goes braless in a thigh2024-05-21 10:30
OpenAI pauses ChatGPT voice after Scarlett Johansson comparisons2024-05-21 12:58
‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad2024-05-21 12:56
Yvette Fielding says her Most Haunted co2024-05-21 11:48
Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 20252024-05-21 11:20
Six killed in a 'foiled coup' in Congo, the army says2024-05-21 11:08
NBA playoffs: Edwards leads Wolves to 982024-05-21 10:55
Four people killed in a house explosion in southwestern Missouri2024-05-21 10:47
Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature2024-05-21 10:46
Shooting injures 2 at Missouri high school graduation ceremony2024-05-21 10:35
Supreme Court rejects an appeal from a Canadian man once held at Guantanamo2024-05-21 10:32