- On September 16, 2021
As a busy September on Capitol Hill ensues, the forthcoming $3.5 trillion budget reconciliation package commands the attention of lawmakers. ASTA is closely monitoring the Budget Reconciliation process and evaluating its potential policy impacts on the seed industry. One specific area which ASTA has been closely tracking is funding for critical agriculture research. As details of the package are released, it’s encouraging to see Congress rightly recognizing the importance of making a strong investment in our nation’s agricultural research programs, a longstanding priority in ASTA’s federal advocacy efforts.
The House-proposed agriculture package includes funding for a myriad of issues, including $7.75 billion in agricultural research, $18 billion in investment to rural communities, and $40 billion in forestry programs. It is expected that additional investments for conservation programs will be included in the package considered on the House floor. Additionally, the broader package is expected to touch on tax provisions relating to multi-generational land ownership, an issue that has spurred outreach to Congress from the broader ag industry. Nearly 330 ag groups have called on the House Ways and Means and Senate Finance committees to preserve existing tax codes for inherited assets. The House Agriculture Committee approved the spending package with a 27-24 vote.