By Lindsay Croke
This week, the U.S. House of Representatives passed the Water Resources Development Act (WRDA) of 2024 on a suspension of rules, an action meant for legislative action without controversy. Most important to Illinois corn farmers, the bill included a permanent adjustment to the inland waterways cost-share for construction and major rehabilitation projects to 75% general revenues/25% Inland Waterways Trust Fund (IWTF) from 65%/35%.
The funding cost-share change is important because it allows for an estimated $1.4 billion over 10 years to be available for projects like new locks and dams. The funding available would only be limited by the dollars in the IWTF; considering annual IWTF revenues of $115 million, $460 million are now eligible from Energy & Water Development appropriations.
According to IL Corn Growers Association (ICGA) President and Waterloo farmer Garrett Hawkins, this funding change is an important element to continuing the modernization efforts of the river infrastructure on the Mississippi and Illinois Rivers.
“ICGA has been advocating for new locks and dams on our river system for decades and we are so excited to see action in the last couple of years that will allow Illinois corn and soybean farmers to be competitive in our global marketplace,” he said. “We have been talking about this funding allocation change for at least the last two years and we’re grateful to see it included in the House version of the bill.”
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