ICBA urges Senate to include ACRE Act in reconciliation bill

ICBA called on Senate Finance Committee leaders to include the Access to Credit for our Rural Economy Act (S. 838) in the tax portion of the Senate reconciliation bill.

Details: In a letter to Chairman Mike Crapo (R-Idaho) and Ranking Member Ron Wyden (D-Ore.), ICBA said:

• The ACRE Act is bipartisan legislation that will provide effective aid to farmers, ranchers, and rural homeowners.

• To realize its potential for helping farmers and rural communities, ACRE should be included in the Senate bill in the introduced version or as close as possible to that.

• A meaningful interest exemption with eligibility for refinanced loans and residential mortgage loans is critical to the success of the ACRE Act.

Recent Action: A modified version of the ACRE Act was included in reconciliation legislation passed by the House Ways and Means Committee last week.

Key Priority: Support for farmers and rural America is a key platform of ICBA’s “Repair, Reform, and Thrive” legislative plan, open letter to the 119th Congress, and list of top lobbying issues for last week’s Capital Summit.