Browsing: Farm Credit System
So far, the 2018 House and Senate Farm Bills now pending in Congress would have a minor impact on the Farm Credit System, which is good news for bankers.
In a joint letter with the Independent Community Bankers of America yesterday, ABA wrote to leaders of the House and Senate Agriculture Committees thanking them for their efforts to craft the 2018 Farm Bill.
A little after midnight this morning, the Senate voted to pass a $1.3 trillion spending bill that will fund the government through the end of the fiscal year on Sept. 30.
Hopefully an unintended consequence of the major tax legislation enacted in December will be the triggering of a fundamental review of the taxation of the FCS and agricultural co-ops relative to banks and other investor-owned businesses.
One unintended effect of the wide-ranging tax legislation Congress enacted last month was a slight reduction in the competitive edge the FCS has long had for loans secured by real estate.