Last Thursday, the Senate overwhelmingly passed the Water Resources Development Act by a vote of 93-1.
The legislation contains a provision pushed for by the American Soybean Association.
That provision would permanently adjust the cost-share ratio for Inland Waterways Trust Fund projects from the current 65 percent general revenues-35 percent IWTF funds to 75 percent general revenue-25 percent IWTF.
Cost share allocation changes for inland waterways projects often reduce overall project costs and allow projects to be completed faster. That allows communities and industries to realize the economic benefits of a project more quickly. In June, the House passed its version of WRDA by a vote of 384-37.
That bill didn’t include the same adjustment to cost-share allocations for IWTF projects. The two chambers will now begin conference negotiations to reconcile the difference between the two bills. The ASA says it will continue to advocate for the Senate version containing the adjustment.