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ABA: The American Bankers Association
Issue

Farm Credit System Competition

Reconsidering the Significant Funding and Tax Advantages of the FCS

ABA Position

ABA believes Congress should reconsider the Farm Credit System’s significant funding and tax advantages in light of the FCS’ loss of mission focus, the dire state of the U.S. government’s finances and policymakers’ desire to make the tax code more equitable.

Support Rural Credit Access

Congress has introduced legislation to reduce borrowing costs and increase access to credit for borrowers in rural America. The Enhancing Credit Opportunities in Rural America (ECORA) Act would exempt interest on loans secured by agricultural real estate from income taxes. By lowering the cost to service these types of loans, banks will be able to provide more agricultural and real estate loans, ultimately increasing access to credit for farmers and ranchers across rural America. The ECORA Act will help guarantee that small ag producers have access to the credit they deserve. Contact your lawmakers and urge them to co-sponsor and support the ECORA Act (H.R. 1872 and S. 1641).

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Our Experts

Edwin Elfmann

SVP, Agricultural & Rural Banking Policy

Agricultural Banking

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Sarah Grano

(202) 663-5470

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