Mobile Courant

U.S. Senators Tommy Tuberville of Alabama and Jerry Moran of Kansas have reintroduced the Access to Credit for our Rural Economy (ACRE) Act, a bill designed to provide increased financial flexibility to rural communities and agricultural borrowers across the United States. The legislation aims to enable more financial institutions to offer affordable credit lines, supporting families, farmers, and rural areas.

Senator Tuberville expressed his commitment to advocating for Alabama's farmers through his role on the Senate Agriculture Committee. "Our farmers are struggling with cash flow and desperately need expanded access to credit to continue their farm operations," he stated. Tuberville emphasized that the bill would enhance the agricultural economy and promote rural housing in Alabama.

Senator Moran highlighted the economic challenges faced by rural Americans due to inflation and high interest rates. "Rural Americans should have the flexibility to access the capital needed to expand their family farms and achieve the dream of homeownership," Moran said, noting that the legislation is intended to support both rural housing and agriculture in small towns nationwide.

The ACRE Act has garnered bipartisan support with Senators Kevin Cramer, Ruben Gallego, Angus King, and Roger Marshall joining as cosponsors. It also received endorsements from key industry groups such as the American Bankers Association and Independent Community Bankers of America.

Senator Tuberville serves on several Senate committees including Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging.