Washington, D.C. (July 3, 2025) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on congressional passage of the One Big Beautiful Bill Act budget reconciliation package.

“ICBA and the nation’s community bankers applaud Congress for including pro-community bank policies in the One Big Beautiful Bill Act budget reconciliation package.

“We appreciate the many positive provisions of the bill that will promote and sustain economic growth in the local communities that community banks serve. ICBA-advocated provisions of the bill include:

  • An ACRE Act policy to make 25% of interest income on agriculture and ranch real estate loans exempt from federal taxation, which will provide needed interest rate relief for U.S. farmers and ranchers.

  • Making permanent the Section 199A deduction to support Subchapter S community banks and other pass-through businesses.

  • Making permanent lower individual rates, a higher estate tax exemption, and a higher alternative minimum tax exemption to promote economic growth.

“Enacting tax policies that support market growth and competition while helping to level the playing field is a key priority of ICBA’s ‘Repair, Reform, and Thrive’ plan and open letter to the 119th Congress. ICBA and community bankers look forward to continuing to work with policymakers to advance policies that will support economic growth in local communities nationwide.”

About ICBA

The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.