Ag bankers, farmers, and ranchers are pushing for the passage of the ACRE Act.
It could make lending cheaper for producers, a move the American Bankers Association says would have a big, positive impact across the economy.
“It’s a tax bill. So, in the context of agriculture, we always think Farm Bill right? But in reality, there are a lot of taxes that affect agriculture, the ACRE Act being one of those pieces of legislation that would change the tax code. So, to break it down, what it will do is it’ll change the tax code around agricultural farm real estate lending, rural housing, aquaculture, and fishery,” said Ed Elfman.
Elfman says the ACRE Act would allow farmers and ranchers to take advantage of cheaper borrowing rates. He says it is an idea that has been around for decades but never got much traction. Kansas Senator Roger Marshall helped author the bill, and he calls it “common sense legislation” that could reverse years of downward trends.
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Ag Secretary Brooke Rollins will travel to Europe and Asia to seek new trade partnerships for U.S. crops after China reduced imports due to tariffs.
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Tom Peterson with the New Mexico Cattle Growers Association says taxpayers are “unfortunate casualties” of this overlay now that the Mexican wolf population is stable under ESA guidelines.
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The amendments affect BLM lands in several Western states. Comments on the Sage grouse proposals can be made to the BLM National NEPA Register until Oct. 3.
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Mike Formica with the National Pork Producers Council joined us on Market Day Report with his reaction to the EPA’s rollback of a Biden-era wastewater discharge mitigation plan.
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