The bill, titled the Access to Credit for our Rural Economy Act of 2025 (ACRE Act of 2025), proposes an amendment to the Internal Revenue Code of 1986 to exclude from taxable income the interest earned by certain lenders on loans secured by rural or agricultural real estate....
Simple Explanation
The Access to Credit for our Rural Economy Act of 2025 wants to make it so that banks and other lenders don't have to pay taxes on the interest they earn from loans on farms or rural land. This way, they might give better loans to farmers and people in the countryside, but there are some concerns that it might mostly help bigger banks.