With lawmakers returning to Washington for the second session of the 118th Congress, ICBA is calling on community bankers to continue urging their members of Congress to co-sponsor legislation to support lending in rural communities.
ICBA pressing grassroots on rural lending relief
January 09, 2024 / By ICBA
With lawmakers returning to Washington for the second session of the 118th Congress, ICBA is calling on community bankers to continue urging their members of Congress to co-sponsor legislation to support lending in rural communities.
With lawmakers returning to Washington for the second session of the 118th Congress, ICBA is calling on community bankers to continue urging their members of Congress to co-sponsor legislation to support lending in rural communities.
ACRE Act: Introduced by Sens. Jerry Moran (R-Kansas) and Angus King (I-Maine) and Reps. Randy Feenstra (R-Iowa) and Wiley Nickel (D-N.C.), the Access to Credit for our Rural Economy (ACRE) Act (H.R. 3139/S. 2371) would make interest income on farm real estate and rural mortgage loans tax-exempt.
Voter Support: ICBA earlier this year released polling conducted by Morning Consult showing 70% of U.S. voters said providing tax relief to lending institutions in rural communities would help preserve family farms if these benefits are passed along to borrowers.
Be Heard: Community bankers can use ICBA’s Be Heard grassroots resource center to connect with their lawmakers and urge support.
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