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In August 2022, Congress passed the historic Inflation Reduction Act (IRA), a landmark piece of legislation that provided nearly $20 billion dollars to the United States Department of Agriculture for various programs capable of reducing greenhouse gasses across our food and farm system, including CSP. E340C), and bundles start with a B (ex.
The IRA funds target climate-smart agriculture and forestry, with FY2023 marking the first year that these funds were used to fund CSP contracts that included climate-smart practices. However, CSAF practices also reduce greenhouse gas emissions or sequester carbon. IRA Expanded CSP’s Footprint The IRA provided an additional $19.5
The initiative will help agriculture and forestry — the largest private sector industries in Virginia — continue to thrive. Agriculture and forestry combine for an annual economic impact of over $90 billion. They are a crucial component of Virginia’s economy, especially in our rural areas.
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