October 1, 2024, marked the beginning of federal Fiscal Year (FY) 2025. The October 1 to September 30 fiscal year was established by Congress in the Congressional Budget and Impoundment Control Act of 1974 (P.L. 93-344). For FY2025, USDA announced that the Natural Resources Conservation Service (NRCS) would make $7.7 billion available to assist with conservation practices, $5.7 billion from the additional funding in the Inflation Reduction Act of 2022 (USDA Press Release, October 2, 2024; USDA-NRCS, Press Release, October 2, 2024). With Congress in recess for the upcoming November election, any opportunity for Farm Bill reauthorization by the 118th Congress depends on both the outcome of the elections and an anticipated lame duck session thereafter. IRA and Farm Bill conservation funding continue through the uncertainties. This article reviews potential tradeoffs between the two (farmdoc daily, August 15, 2024; August 29, 2024).
