AGRICULTURE AND RURAL AMERICA

Letters and Testimonies

Testimony

Title Committee Presenter Date
House Ways and Means Committee 05/09/24
Senate Agriculture Committee Gus Barker 05/04/23

Ag News

Farm Credit System loan volume jumps 10%

June 11, 2021

The Farm Credit Administration released its quarterly report on the ag economy and the performance of the Farm Credit System, whose growth is largely generated by tax free ag real estate lending.

Numbers: Gross loan volume has increased to $321 billion—a jump of 10 percent over a year ago—while total FCS assets exceed $400 billion.

Grassroots: ICBA is encouraging community bankers to urge Congress to support the Enhancing Credit Opportunities in Rural America (ECORA) Act (H.R. 1977), which would exempt from taxation interest income on farm real estate and rural mortgage loans.

Contact Congress now.