The House Ways and Means Committee’s “One, Big, Beautiful Bill” legislative package includes many ICBA-advocated tax policies, ICBA said in a national news release.
ICBA-Advocated Policies: The legislative proposal released ahead of today’s committee markup includes ICBA-advocated provisions, such as:
The ACRE Act, which would exempt from taxation interest on loans secured by farmland and residential mortgages in towns under 2,500 population.
Increasing the Section 199A deduction from 20% to 23% and making it permanent, which would support Subchapter S community banks and other pass-through businesses.
Making permanent lower individual rates, a higher estate tax exemption, and a higher alternative minimum tax exemption.
ICBA Statement: In ICBA’s news release, President and CEO Rebeca Romero Rainey thanked committee Chairman Jason Smith (R-Mo.) and members of the committee for their work on the tax package. “Enacting tax policies that support market growth and competition while helping to level the playing field is a key priority of ICBA’s ‘Repair, Reform, and Thrive’ plan and open letter to the 119th Congress,” Romero Rainey said.
Capital Summit This Week: The committee issued the legislation as community bankers gather in the nation’s capital for meetings with lawmakers as part of the 2025 ICBA Capital Summit.
