Rep. Fallon Cosponsors Family Farm and Small Business Exemption Act

Rep. Pat Fallon (TX-04) joined several House colleagues in the reintroduction of the Family Farm and Small Business Exemption Act. This bill would be a major win for farmers and rural families by ensuring they receive the level of financial aid they deserve when considering higher education.

"I’m proud to cosponsor the reintroduction of the Family Farm and Small Business Exemption Act," said Rep. Fallon. "This bill ensures that non-liquid assets—such as equipment and inventory—are not counted against students when determining financial aid eligibility. These assets are necessary for running businesses, but they shouldn't impact financial aid. By restoring this exemption, we give students from family farms and small businesses a better opportunity to pursue higher education."

This legislation was introduced in the U.S. Senate by Senator Joni Ernst (R-IA).