The Senate’s Inflation Reduction Act includes nearly $8.5 billion for the Environmental Quality Incentives Program, $7 billion for the Regional Conservation Partnership Program and $3.25 billion for the Conservation Stewardship Program. USDA also receives $300 million to quantify carbon sequestration and greenhouse gas emissions from farmland. There’s money for farmers with prevented plant land to grow cover crops. This bill extends the $1 per gallon biodiesel tax credit from 2022-to-2024 and invests in the infrastructure needed for blender pumps. Rural electric cooperatives will receive nearly $10 billion for renewable energy projects, carbon capture and energy efficiency. The Farm Service Agency will also receive $1 billion to help farmers and ranchers with “limited resources.” FSA will pay up to 100 percent of ‘at risk’ loans, up to $150,000. There’s another $750 million for farmers who faced discrimination from USDA before 2021.
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