By Scout Nelson
A bipartisan group of U.S. Senators has reintroduced the Access to Credit for our Rural Economy (ACRE) Act to improve financial accessibility for rural communities and agricultural borrowers. This legislation aims to provide more flexible and affordable credit options, ensuring that Kansas farmers and rural homeowners can secure necessary funding despite rising interest rates.
Senator Jerry Moran emphasized the importance of this initiative, stating that inflation and high loan rates have created financial burdens across rural America. By offering better credit access, the ACRE Act will support Kansas agriculture and rural housing, helping families expand farms and achieve homeownership.
Senator Roger Marshall highlighted that high interest rates hinder small businesses and farm growth. He believes this bill provides a common-sense solution to counter these financial challenges. The legislation would lower borrowing costs, allowing farmers and rural communities to sustain and grow their operations.
The ACRE Act also promotes lender competition, creating more opportunities for financial institutions to support rural borrowers. With increased access to credit, Kansas farmers and ranchers can invest in land, equipment, and housing while strengthening local economies.
This legislative effort underscores a broader commitment to sustaining Kansas agriculture and rural development. If passed, the ACRE Act will provide much-needed financial relief to rural communities, making farm ownership and rural housing more attainable.
Press Release:gettyimages-d-keine
Categories: Kansas, Government & Policy