Kansas Senators Jerry Moran and Roger Marshall have joined with other co-sponsors to again introduce a bill that will provide for financial help to farmers and rural communities.
The Access to Credit for our Rural Economy (ACRE) Act 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.
In a press release, Senator Moran said “Persistent inflation and high interest rates are putting a strain on farmers and rural homeowners in Kansas and across the country. 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.”
Senator Marshall added, “The ACRE Act will help community banks address one of the most significant challenges for rural communities — high interest rates. High rates raise the cost of doing business for family farms, make it harder for small businesses to grow, and leave home ownership unattainable for many. The ACRE Act is common sense legislation to reverse these trends.”
The other sponsors of the bill are Independent Angus King of Maine, Democrat Ruben Gallego of Arizona, and Republicans Kevin Cramer of North Dakota and Tommy Tuberbille of Alabama.
