The Congressional Research Service this week published details of the Inflation Reduction Act regarding agriculture. The Senate passed the bill, which is considered a substitute to the House-passed Build Back Better Act, on August 7, and the House will consider the bill Friday (today). The legislation provides $19.5 billion for agricultural conservation. It would add over $18 billion in additional funding for existing farm bill conservation programs. The bill also provides debt relief for distressed farm borrowers and assistance for underserved farmers and ranchers. These provisions would replace similar provisions from the American Rescue Plan Act that were blocked by the courts because the relief was found to be race-based and not narrowly tailored to meet a compelling state interest. The legislation would support renewable energy initiatives, primarily by providing $13.3 billion for farm bill energy title programs, and provide $5 billion in funding for forest management, planning and restoration.
Congressional Research Office Details Ag Provision in Inflation Reduction Act