Article Summary –
The Farm Bill faces uncertainty, however, the Inflation Reduction Act of 2022 has provided a fiscal year’s worth of additional investments in farm conservation. The Act granted an extra $18 billion to four programs, including the Agricultural Conservation Easement Program and the Environmental Quality Incentives Program, resulting in a combined investment exceeding $2.75 billion for conservation. Despite previous funding issues, every state gained conservation funding in FY2023, with Arkansas, Wyoming, and Illinois seeing the most significant increases.
Farm Bill Reauthorization Faces Uncertainty
As March unfolds, the reauthorization of the Farm Bill faces an uncertain path, mirroring the unpredictable shift from winter to spring (Stein, 2015; Farmers Almanac, 2024). This is fueled by Congressional dysfunction and non-specific demands. Despite these challenges, farmers have benefited from additional investments in conservation from the Inflation Reduction Act of 2022.
Background
The Inflation Reduction Act of 2022 supplemented the Farm Bill with an additional $18 billion for four conservation programs (P.L. 117-169). The funding for these programs in the first federal fiscal year (FY) of the act exceeded $2.75 billion, setting a record high for EQIP and CSP in FY2023.
Discussion
The additional conservation investments from the Inflation Reduction Act led to a record amount of assistance from EQIP and CSP in FY2023. This is significant considering the lower level of funding since the 2018 Farm Bill. The total assistance from EQIP and CSP under the 2018 Farm Bill was nearly $1 billion less than under the 2014 Farm Bill. The Inflation Reduction Act funds helped recover one-third of this decrease. All states experienced an increase in conservation funding in FY2023, with Arkansas, Wyoming, and Illinois gaining the most.
Despite the increase in funding, conservation programs face challenges due to capped funding—a persistent issue leading to backlogs and approved applications not receiving assistance due to insufficient funds (September 29, 2023). With the limited funding, the state-by-state allocation of funds has not changed significantly with the introduction of Inflation Reduction Act funds.
The uncertain future of the Farm Bill reauthorization, combined with the increased conservation funding provided by the Inflation Reduction Act, brings to mind the saying that “a bird in hand is worth two in the bush.” This emphasizes the importance of holding on to actual benefits in the present rather than risking them for potential future gains (Burton, March 24, 2017).
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