Last night, the Senate passed the Water Resources Development Act (WRDA) of 2024, following its earlier passage by the House of Representatives on Monday, December 9. The bill garnered overwhelming bipartisan support, with 97 senators voting in favor and only one senator opposing the legislation.
The final WRDA 2024 bill includes a pivotal provision, which permanently adjusts the inland waterways cost-share formula for construction and major rehabilitation projects. The new ratio—75% general revenues and 25% Inland Waterways Trust Fund (IWTF)—replaces the previous 65%/35% split.
This change is a significant win for the future of inland waterways infrastructure. The adjustment unlocks an estimated $1.4 billion in additional funding over the next decade for Energy & Water Development appropriations that support the U.S. Army Corps of Engineers. Specifically, with annual IWTF revenues averaging $115 million, the 75%/25% cost-share increases available appropriations to $460 million—a $131 million boost compared to the previous formula.
“This is a big win for Illinois farmers,” said Garrett Hawkins, Illinois farmer and ICGA President. “It allows Illinois farmers to remain competitive in the global marketplace.”
IL Corn has invested decades of effort into advocating for legislation like WRDA, collaborating with partners such as WCI and numerous legislators.
Adjustments to cost-share formulas have a profound impact, as they enable a larger percentage of funding to be directed toward completing critical infrastructure projects that directly benefit the agricultural economy.
Illinois farmers should take pride in this milestone achievement, which reinforces their role as leaders in global agricultural trade and demonstrates the power of persistent advocacy.
