ICBA Thanks House Ways and Means Committee for Including Community Bank Legislative Priorities in Tax Proposal

Washington, D.C. (May 12, 2025) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the House Ways and Means Committee’s release of its “One, Big, Beautiful Bill” legislative package.

“ICBA and the nation’s community bankers thank Chairman Jason Smith and the members of the House Ways and Means Committee for their work on the ‘One, Big, Beautiful Bill’ legislative proposal released today.

“While this process is ongoing, we appreciate the many positive features 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:

• The ACRE Act, which would provide needed interest rate relief for struggling farmers.

• Increasing the Section 199A deduction to 23% and making it permanent, which will be vital to 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.

“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. With community bankers in our nation’s capital this week for the ICBA Capital Summit, we look forward to continuing to work with policymakers as this legislation advances.”

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.