Agricultural support in the United States: Inflation Reduction Act (IRA)
The Inflation Reduction Act (IRA) included programs to agricultural support and environmental protection in United States.
To begin with, this Act provides $19.5 billion for agricultural conservation, including $18 billion in additional funding for existing conservation programs.
The latter include: the Environmental Quality Incentives Program (EQIP), the Regional Conservation Partnership Program (RCPP), the Conservation Stewardship Program (CSP), and the Agricultural Conservation Easements Program (ACEP).
Also funded are conservation technical assistance and a carbon sequestration and greenhouse gas emissions quantification program.
On November 17, 2022, the U.S. Department of Agriculture’s (USDA) Natural Resources and Conservation Service (NRCS) published a notice in the Federal Register seeking public input on the implementation of IRA-funded conservation programs.
In addition, the IRA includes funding to assist distressed farm loan borrowers of direct or guaranteed loans administered by USDA.
As of early November 2022, $800 million had been disbursed to more than 13,000 distressed USDA farm loan borrowers.
Agricultural support
The Act also provides $2.2 billion in financial assistance to farmers who have experienced discrimination in USDA’s farm loan program.
On October 13, 2022, USDA requested public comments on the implementation of IRA provisions to assist these farmers.
As background: on August 7, 2022, the Senate passed the so-called Inflation Reduction Act of 2022, which replaces the Enhanced Rebuilding Act (H.R. 5376) passed by the House of Representatives.
Both bills are budget reconciliation measures, which allow for an increase in spending in accordance with the FY2022 budget resolution.
The Inflation Reduction Act would provide $5 billion in Subtitle D of Title II for forest management, planning, and restoration activities for federal and nonfederal forests.
The funding in the Inflation Reduction Act would include 2.15 billion for management of the National
Forest System (NFS, administered by the U.S. Forest Service), including funding for hazardous fuel
reduction or vegetation management projects on NFS lands, for inventorying and protecting old-growth
and mature forests on NFS lands, and for improving environmental reviews.
