America Grows Act of 2023: Increased Funding for Agricultural Research
The Act appropriates funds to four agencies: the Agricultural Research Service (ARS), the Economic Research Service (ERS), the National Agricultural Statistics Service (NASS), and the National Institute of Food and Agriculture (NIFA). It establishes a funding mechanism where amounts for fiscal year 2024 are 105% of the 2023 budget increased by the Consumer Price Index. For fiscal years 2025 through 2033, funding is to increase by 5% annually plus inflation, and from 2034 onwards, it is indexed to inflation.
Key points
Funding Increase: Agencies such as ARS and NIFA will receive an amount in fiscal year 2024 equal to 105% of the 2023 funds, adjusted for the increase in the Consumer Price Index.
Multi-year Mechanism: For fiscal years 2025 through 2033, the appropriated amounts will be 105% of the previous year's amount, increased by the inflation index.
Exemption from Sequestration: Funds made available under this Act are exempt from automatic budget cuts (sequestration) under the Balanced Budget and Emergency Deficit Control Act of 1985.
Funding Recipients: The Act lists specific funding recipients, including the Economic Research Service and the National Agricultural Statistics Service.
Expired
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