To provide for a limitation on availability of funds for US Department of Agriculture, Rural Business-Cooperative Service, Intermediary Relending Program Fund Account for fiscal year 2024.
Impact
The bill is expected to have significant implications for rural development initiatives across the United States. By capping the funding for the Intermediary Relending Program, it may limit the USDA's ability to provide essential financial assistance to rural businesses that rely on these funds for growth and sustainability. This funding limitation could hinder projects that foster economic development in underserved areas, thus hampering efforts to improve the quality of life in rural communities. Proponents of the bill argue that it is necessary to control spending, while critics may contend that it sacrifices vital support for rural economic growth.
Summary
House Bill 2279 aims to impose a funding limitation on the Intermediary Relending Program Fund Account under the United States Department of Agriculture (USDA) for the fiscal year 2024. Specifically, the bill restricts the available funds for this program to a maximum of $18,889,000. This measure is introduced in the context of federal budgeting and reflects broader discussions around fiscal responsibility and the allocation of resources within agricultural programs. The intention is to manage expenditures effectively, balancing the financial needs of rural business services against available federal funds.
Contention
Notable points of contention surrounding HB2279 include the debate over the balance between fiscal accountability and the need for continued investment in vital rural programs. Supporters of the funding cap emphasize the importance of prudent financial management, particularly in a time of budgetary constraints. In contrast, opponents may argue that such limitations could exacerbate existing inequalities and hinder the economic resilience of rural areas. Stakeholders from agricultural organizations and rural advocacy groups may raise concerns about the potential long-term impacts of reduced funding on rural infrastructure and business viability.
To provide for a limitation on availability of funds for US Department of Agriculture, Rural Business-Cooperative Service, Rural Business Program Account for fiscal year 2024.
To provide for a limitation on availability of funds for US Department of Agriculture, Rural Business-Cooperative Service, Rural Econoic Development Loans Program Account for fiscal year 2024.
To provide for a limitation on availability of funds for US Department of Agriculture, Rural Business-Cooperative Service, Rural Energy for America Program for fiscal year 2024.
To provide for a limitation on availability of funds for US Department of Agriculture, Rural Business-Cooperative Service, Rural Cooperative Development Grants for fiscal year 2024.
To provide for a limitation on availability of funds for US Department of Agriculture, Rural Utilities Service, Distance Learning, Telemedicine, and Broadband Program for fiscal year 2024.
To provide for a limitation on availability of funds for US Department of Agriculture, Rural Development Programs, Rural Housing Service, Rural Housing Insurance Fund Program Account for fiscal year 2024.
To provide for a limitation on availability of funds for US Department of Agriculture, Agricultural Research Service, Salaries and Expenses for fiscal year 2024.