Democratic Leadership Outlines Investment Opportunities Under Spending Plan
WASHINGTON, DC – As Congress continues its debate of the President’s Build Back Better Act, leadership in the House Agriculture Committee have released details on agriculture and forestry provisions included in the bill.
The bill is also known as the “human infrastructure” package or reconciliation and is being presented with a $1.5 to $2 trillion price tag.
As part of the provision, if passed, $2 billion would be invested in agricultural research and infrastructure.
Another $18 billion would be targeted to investments in promoting rural communities through clean water, renewable energy, and renewable biofuels infrastrucutre.
There would also be a $27 billion investment in forestry programs aimed at combatting forest fires while contributing to health resilient forests.
The plan would also draw on a $6 billion offset in funding from unused American Rescue Plan Act funds, to provide $12 billion for debt releif for “farmers in need”.
Finally, more than $28 billion would be invested in conservation programs and support for farmers and producers although details have not been released.
(SOURCE: All Ag News)