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.
Cattle groups say additional imports would offer little relief for consumers but could erode rancher confidence as the industry begins to rebuild herds.
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With China halting U.S. soybean purchases and talks tied to broader strategic issues, growers face renewed export uncertainty.
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Talks highlight the widening role of agriculture in U.S.–India trade policy, though neither side appears ready for major concessions before tariff issues and oil imports are resolved.
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Soybean farmer and Arkansas Lt. Gov. Leslie Rutledge highlights why the U.S. trade standoff with China is especially critical for Arkansas producers.
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