The ACRE Act will benefit ag bankers, farmers, and ranchers, but how?

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.

Related Stories
According to a tweet from Rep. Anna Paulina Luna, the full House vote on the Farm Bill will be held until lawmakers return from recess.
Roger McEowen joins us to explain the USDA appeals process and how farmers should navigate adverse decisions and crop insurance disputes.
EPA’s approval gives citrus growers a new disease-fighting tool against greening at a time when production losses remain severe.
The House is moving forward with debate on the Farm Bill after a lengthy session in the House Rules Committee cleared the legislation for floor consideration.
Rail rulings, export terminal access, and equipment rules are becoming bigger factors in grain shipping costs and reliability.
House lawmakers push toward a Farm Bill vote as debate grows over E15, Prop 12, and input costs, with farmers seeking certainty and policy updates.

LATEST STORIES BY THIS AUTHOR:

Patrick Gottsch, founder and chairman of RFD-TV, testified before the U.S. House Judiciary Committee in May 2014. Read his full testimony: “Competition in the Video and Broadband Markets: the Proposed Merger of Comcast and Time Warner Cable.”
Dr. Harry Anderson will discuss and highlight Total Feeds and the different brands they offer on the market today.
Cabela’s Senior Wildlife Biologist, Rans Thomas, will discuss improving general wildlife and land management techniques on your property with the assistance of Cabela’s products and expertise.
Join a group of John Deere Product experts as they discuss how the all-new 4M and 4R Series Compact Utility Tractors are changing the game with superior technology.