On Thursday, the White House released a broad-based summary of its proposed Build Back Better (BBB) spending plan as President Biden once again took to Capitol Hill, pleading with House Democrats for their support on both the $1 trillion bipartisan infrastructure package (BIF) and the newly unveiled $1.75 trillion BBB spending plan, ahead of his trip to Rome for the G20 Summit.
While a second attempt was pressed for by the Administration and House Leadership on Thursday to vote on the BIF, it ultimately did not come to fruition largely attributed to the Progressive Democratic Caucus. Several members of the caucus remained steady in their opposition to a vote on the BIF as they press for more time to review and possibly alter the legislative text of the $1.75 trillion dollar BBB package and get a solid commitment from the Senate, namely Senator’s Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ) on the BBB who are still uncommitted at this point.
Ultimately, the Democratic party may eventually approve the BIF and the BBB, however, the House and Senate still have their work cut out for them with razor thin vote margins and a divided tide between progressive and moderates of the party.
If the BBB is eventually enacted into law, in its current form, there are provisions included related to agriculture on conservation and other matters.
Per the section-by-section analysis, the BBB would appropriate an approximate $28 billion in conservation program funding.
• Section 15001 would provide payments to producers who establish cover crops in their fields for soil health and to help address climate change. Such payments equal to $25 per-acre, up to 1,000 acres per producer. With respect to any non-operating landowners, this section would pay $5 per acre to encourage or permit the operator to establish cover crops on the rented land.
• Section 15002 would provide additional funding for four existing farm bill conservation programs: the Environmental Quality Incentives Program (“EQIP”), the Conservation Stewardship Program (“CSP”), USDA conservation easements (“ACEP”), and the Regional Conservation Partnership Program (“RCPP”) in the amounts of $9 billion, $4.1 billion, $1.7 billion, and $7.5 bil lion, respectively. In utilizing these additional funds to carry out these programs, the Secretary is generally required to prioritize the improvement of soil carbon, reduction of nitrogen losses, and the reduction or capture of greenhouse gas emissions.
• Section 15003 would provide $200 million to the Natural Resources Conservation Service to provide conservation technical assistance; $50 million to USDA to promote climate change adaptation and mitigation through regional climate hubs; $600 million to the Natural Resources Conservation Service to engage in the quantification of carbon sequestration and greenhouse gas emissions; and $100 million for administrative expenses.
Plains Cotton Growers will continue to monitor the progress of this legislation. Currently as the legislation is written today, there are no changes to steppedup basis in inheritance, a concern many in agriculture expressed with the initial framework. For more details on agriculture and other related provisions contained in the BBB click here.