ICBA Offers Support for Small Business Loan Interest Bill
ICBA Offers Support for Small Business Loan Interest Bill
- AuthorsFine, Camden R.
- Institutional AuthorsIndependent Community Bankers of America
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2018-2911
- Tax Analysts Electronic Citation2018 TNT 13-22
January 17, 2018
The Honorable Rodney L. Blum
U.S. House of Representatives
Washington, D.C. 20515
Dear Representative Blum:
On behalf of the more than 5,700 community banks represented by ICBA, I write to offer our strong support for H.R. 4424, which would spur community bank lending to small businesses including small farms.
H.R. 4424 would provide that interest earned on small business loans extended by community bank would not be included in taxable income. This provision would result in lower borrowing rates for small businesses, stimulating small business hiring and investment and economic growth. H.R. 4424 would also create a more competitive financial services marketplace to the benefit of all borrowers and communities.
Thank you for introducing H.R. 4424. ICBA looks forward to working with you to advance this important legislation.
Sincerely,
Camden R. Fine
President & CEO
Independent Community Bankers of America
- AuthorsFine, Camden R.
- Institutional AuthorsIndependent Community Bankers of America
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2018-2911
- Tax Analysts Electronic Citation2018 TNT 13-22