ACRE Act Could Help Farmers During Tough Times

With rising input costs and low commodity prices, farmers are staring down a tough finish to 2024. The Access to Credit for our Rural Economy (ACRE) Act is seen as a way to help soften stressful times. American Bankers Association Senior Vice President of Agricultural and Rural Banking Policy Ed Elfmann feels this is the perfect time for the introduction of the ACRE Act. “We have the farm economy starting to not look as strong as it’s been, we have a rising interest rate environment, and you get that perfect storm. It makes all the sense in the world to look at legislation that provides a solution to lowering interest costs for farmers, ranchers, and rural homeowners.”