ICBA today is calling on the House Ways and Means Committee to take up ICBA-advocated legislation to support lending in rural communities.
ICBA urging ACRE Act support during hearing today
May 10, 2024 / By ICBA
ICBA today is calling on the House Ways and Means Committee to take up ICBA-advocated legislation to support lending in rural communities.
ICBA today is calling on the House Ways and Means Committee to take up ICBA-advocated 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.
ICBA Statement: In a statement for the record for today’s field hearing in Scottsdale, Ariz., on empowering Native American and rural communities, ICBA said the bill would promote the availability of affordable homes in rural Native American and other communities.
Background: The ACRE Act was one of the top lobbying priorities during ICBA’s recent Capital Summit in Washington. During the summit, ICBA released polling conducted by Morning Consult that found that 70% of Americans say 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 for the bill.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
