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Shining Light on Farm & Food Policy for 20 Years.
Tuesday, May 14, 2024
A New Mexico lawmaker says the extra Inflation Reduction Act funding allocated to conservation programs will help the Department of Agriculture have the staffing levels and money necessary to address producer demand for assistance.
While thousands of producers line up for government assistance through CSP and the Environmental Quality Incentives Program each year, less than one-third have historically been able to get in. And that trend continued in 2023, despite both programs collectively being infused with $500 million in additional funding that year through the Inflation Reduction Act.
A short-term tax package that would restore full bonus depreciation and raise limits on the Section 179 expensing provision is now set to move next week in the House. Meanwhile in the Senate, the top Republican on the Senate Finance Committee is making clear that the bill shouldn’t set a precedent for offsetting the cost of future tax bills.
Senate Agriculture Committee Chairwoman Debbie Stabenow says in an exclusive interview with Agri-Pulse that she expects to have about $4 billion to $5 billion in new funding available for the next farm bill.
Environmental claims, including those related to carbon reductions, need to be better defined and policed, commenters told the Federal Trade Commission as it considers revisions to guidance long used by industry.
Agriculture has played a prominent role at the United Nations climate conference, where a broad range of companies, groups and governments have been discussing issues ranging from reparations for climate damage to the role of livestock in contributing to and perhaps even mitigating the problem.
