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.
USDA Under Secretary Richard Fordyce says the department stands ready to provide technical assistance with the Farm Bill if Congress requests it.
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Hurd joined this week’s Champions of Rural America to review the proposed Farm Bill moving through the House and discuss its potential impact on rural communities and farmers across the country.
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Nutrition policy shifts may influence retail demand across agriculture.
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Weak crop margins and tariff uncertainty are delaying machinery purchases and signaling slower capital investment across U.S. agriculture.
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