Tuberville, Moran Introduce Bill to Expand Capitol for Rural Communities

March 6, 2025 – WASHINGTON, D.C. – Today, U.S. Senator Tommy Tuberville (R-AL) joined U.S. Senator Jerry Moran (R-KS) in reintroducing the Access to Credit for our Rural Economy (ACRE) Act. This legislation would benefit American families, farmers, and rural communities nationwide by providing greater flexibility to more financial institutions to offer affordable lines of credit to rural and agricultural borrowers.

Senator Tuberville cosponsored this legislation in the 118th Congress.

"As Alabama's voice on the Senate Ag Committee, I will always advocate for Alabama's farmers and rural communities here in Washington," said Senator Tuberville. "Our farmers are struggling with cash flow and desperately need expanded access to credit to continue their farm operations. I'm proud to join my colleagues in cosponsoring this bill that would bolster our agricultural economy and stimulate rural housing for all Alabamians."

"Persistent inflation and high interest rates are putting a strain on farmers and rural homeowners in Kansas and across the country," said Senator Moran. "Rural Americans should have the flexibility to access the capital needed to expand their family farms and achieve the dream of homeownership. This legislation will help to boost rural housing and support the agricultural economy that plays a vital role in small towns across America."

Senators Tuberville and Moran were joined by Senators Kevin Cramer (R-ND), Ruben Gallego (D-AZ), Angus King (I-ME), and Roger Marshall (R-KS) in cosponsoring the legislation.

American Bankers Association and Independent Community Bankers of America endorsed the legislation.

The ACRE Act would:

Amend the Internal Revenue Code to exclude interest received on certain loans secured by rural or agricultural real property from gross income

Allow farm real estate borrowers and rural homeowners access to lower interest rates by expanding the same tax-exempt status on certain earned interest that applies to other lenders

Apply to agricultural real estate and single-family home mortgage loans in rural communities with fewer than 2,500 residents and for mortgages less than $750,000

Expand access to affordable agricultural and home loans to over 4,000 rural communities nationwide and save family farmers and producers well over $400 million in annual interest expenses

Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans' Affairs, HELP, and Aging Committees.