President Biden Signs Omnibus Package, Key Ag Funding Updates Included

President Biden officially signed a bipartisan omnibus bill on Thursday, with funding allocated that will impact the ag industry in the new year and beyond. The Consolidated Appropriations Act of 2023 is a $1.7 trillion bill includes 12 separate bills covering everything from natural disasters to military pay to foreign aid.

Highlights of the ag sector funding include:

>> Research: Funding will increase by $175 million to $3.45 billion in 2023

>> Conservation: Includes the SUSTAINS Act, which allows corporations and private entities to contribute funding for conservation projects and authorize USDA to match their donations.

>> Infrastructure: $1.48 billion is included in addition to annual appropriations funding for emergency repairs after extreme weather, including low levels on the Mississippi River.

>> Relief Aid: $3.7 billion in farm disaster aid to those who suffered losses in 2022, amidst other authorizations for producer payments including $25 million for specialty crop equitable relief.

>> Broadband: $348 million to USDA’s ReConnect loan and grant program.

>> Carbon: Includes the Growing Climate Solutions Act, which allows the USDA to oversee farm technical adviser registration and carbon-credit verification services.

>> Insurance: Encourages USDA to index all administrative and operating expenses in the crop insurance program for inflation.

Read more on the omnibus bill and ag spending updates here.