Congressman Watkins Introduces Bill Enhancing Rural Access To Credit

March 26, 2019
Press Release
Congressman Watkins Introduces Bill Enhancing Rural Access To Credit

Press Contact: Jim.Joice@mail.house.gov

 

For Immediate Release:

March 26, 2019

 

 

Congressman Watkins Introduces Bill Enhancing Rural Access To Credit

 

Washington, DC - Today, Congressman Steve Watkins (KS-02) introduced H.R. 1872, the Enhancing Credit Opportunities in Rural America (ECORA) Act. This bill will allow farmers, ranchers, and rural homeowners greater flexibility to service their loans from community banks by exempting interest on qualifying rural loans from taxable income. Congressman Watkins issued the following statement:

 

“Small town lenders are crucial to the viability of rural America. Community banks and their ag customers have unfortunately had to adjust to years of weak commodity prices while family farm debts have become increasingly highly-leveraged. In fact, farm delinquencies are sadly at their highest rate in nine years. This timely legislation would give greater certainty to small town folks by enhancing and expanding rural access to credit,” said Congressman Watkins.

 

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