RMFU Welcomes the Inflation Reduction Act of 2022

FOR IMMEDIATE RELEASE

August 1, 2022

Senators Chuck Schumer (D-NY) and Joe Manchin (D-WV) have come to an agreement to bring the Inflation Reduction Act of 2022 to a vote after a month’s long heated debate. As presented to the Senate, this bill invests well over $40 billion in RMFU related policy priorities. It will also address rising inflation by reducing the national deficit, decrease energy costs and lower healthcare costs. 

“This bill will directly benefit our rural and agricultural communities. While we are cautious about this level of spending, we appreciate that measures that have been taken in this bill to lower the deficit and combat inflation through tax reforms,” says RMFU President, Dr. Dale McCall. “We support the numerous provisions that further our goals and provide agriculture a true opportunity to lead on greenhouse gas reductions and mitigate the harmful effects of climate change. This legislation would be the largest investment into addressing climate change in U.S. history, it is a proactive approach towards building resiliency for our members. We urge the swift passage of this bill in Congress.”

Just some of the provisions listed in the Inflation Reduction Act that will benefit Farmers Union members include: 

• $21 billion for established, successful USDA programs as well as technical assistance for voluntary and incentive-based conservation and climate resiliency.
• $12.5 billion for upgrading rural co-op electrical infrastructure, expanding rural and agricultural renewable energy, and bolstering of biofuel production.
• $5 billion for forest health initiatives to protect from increased wildfires and their destructive aftermath to our watersheds.
• $587 million for Bureau of Reclamation drought response and funding for drought relief specifically for tribes.  

To learn more about the Inflation Reduction Act and RMFU’s position on the many provisions, please reach out to the RMFU Director, Dan Waldvogle at Daniel.waldvogle@rmfu.org.