The U.S. House-approved Water Resources Development Act of 2020 (H.R. 7575) authorizes the construction of 34 new projects as well as the study and construction of locally driven projects that were developed in cooperation and consultation with the Army Corps of Engineers.
The bill adjusts the cost-share for construction and major rehabilitation of inland waterways projects from a 50/50 split to 65% from the general fund of the Treasury and 35% from the Inland Waterways Trust Fund. The bill also authorizes the deposit of additional funds into the Harbor Maintenance Trust Fund for dredging and port modernization projects.
Agriculture depends on safe and efficient ports and inland waterway infrastructure to maintain global competitiveness. Investment in crucial waterway infrastructure helps keep food costs down for consumers and gives American farmers a transportation cost advantage over their foreign competitors (Keeping U.S. Farm Goods Flowing into the Global Economy).
Read the full article on the American Farm Bureau Federation website.
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