House ag spending bill slashes USDA funding

Washington Capitol

The House Agriculture Appropriations Subcommittee released its spending bill for FY2024 Wednesday night, slashing USDA spending and Secretary Tom Vilsack’s use of the Commodity Credit Corporation.

The bill provides $26.3 billion for total funding, which is $532 million below the 2023 funding level. House GOP lawmakers set aside $17.1 billion for the Department of Agriculture, which is $8.6 billion below current fiscal year spending and $11.7 billion below the budget request.

The bill also provides $8.1 billion in funding repurposed from unobligated balances from pandemic-era programs. It reduces billions of dollars in spending from American Rescue Plan and Inflation Reduction Act. Those changes include a $32 billion decrease in mandatory SNAP spending from FY23 levels due to the end of pandemic-era benefits and a decrease in participation rates.

The proposal also eliminates funding for equity initiatives and climate change and saves $1 billion by restricting the discretionary use of the Commodity Credit Corporation.

The House Agriculture Appropriations Subcommittee is scheduled to markup the bill Thursday morning.

Related Stories
The topics in ag law and tax are diverse. There’s never a dull moment. For now, here’s a selection of various ag law topics from RFD-TV Agricultural Law & Tax expert Roger McEowen.
Global food prices inched upward for the third consecutive month according to the latest FAO Food Price Index. While some Americans struggle to source their next meal, others are ordering high-priced food delivery straight to their door more than ever before.

LATEST STORIES BY THIS AUTHOR:

RanchHer celebrated the invaluable contributions women leading the beef industry at their panel, “Your Path to Becoming a RanchHer,” Friday at NCBA CattleCon.
The department released a new forecast for grocery store prices for 2023.
The United States is taking the next step in the process by establishing a dispute settlement panel.