The U.S. Senate passed the Inflation Reduction Act over the weekend, which includes some $40 billion of agricultural-focused funding.
Passed along party lines, with Vice President Kamala Harris casting the tie-breaking vote, the legislation includes $4 billion for drought resilience directed to the Bureau of Reclamation, and $3.1 billion in funding for distressed borrowers of USDA loans, according to Politico. The legislation also includes funding for USDA conservation programs and rural development.
Both Sen. Todd Young (R-IN) and Sen. Mike Braun (R-IN) voted against the bill and issued statements via Twitter condemning the Senate’s passage of the legislation.
Today, I voted against the Democrats’ reckless tax-and-spend bill, the so-called Inflation Reduction Act. With inflation at a 40 year high and our country in a recession, this bill is the wrong approach to helping Hoosier families. https://t.co/CjO64LSvIK
— Senator Todd Young (@SenToddYoung) August 7, 2022
This bill is just another inflation bomb like the last one. Washington’s spending addiction is hurting every American.https://t.co/n2u9rkHTlZ
— Senator Mike Braun (@SenatorBraun) August 7, 2022
The bill also seeks to address prescription drug prices, climate, and reducing the federal deficit.
The legislation will now go before the U.S. House of Representatives.
Source: NAFB
