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The House Ways and Means Committee advanced its “One, Big, Beautiful Bill” legislative package with several ICBA tax priorities.
Details: The legislation:
Includes an ACRE Act policy to make 25% of interest income on agriculture and ranch real estate loans exempt from federal taxation.
Would increase the Section 199A deduction from 20% to 23% and make it permanent to support Subchapter S community banks and other pass-through businesses.
Would make permanent lower individual rates, a higher estate tax exemption, and a higher alternative minimum tax exemption.
ICBA Statement: In a national news release earlier this week, ICBA President and CEO Rebeca Romero Rainey thanked committee Chairman Jason Smith (R-Mo.) and members of the committee for their work on the tax package.
Previous News
Deputy Treasury Secretary Michael Faulkender told community bankers at the ICBA Capital Summit that Trump administration tax priorities pending in Congress would support community banks and local communities.
ImageMay 14, 2025
Rep. Byron Donalds (R-Fla.) told ICBA Capital Summit attendees that supporting community banking is not a partisan issue—it's a common-sense approach to helping small businesses thrive and support the economy.
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ICBA President and CEO Rebeca Romero Rainey told community bankers gathered in Washington that community banks are the reason that the U.S. has more small businesses than anywhere else in the world.
ImageMay 14, 2025
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