diff --git a/scss/_variables.scss b/scss/_variables.scss
index b6c0ec379afd..d5895cc05cb5 100644
--- a/scss/_variables.scss
+++ b/scss/_variables.scss
@@ -1072,10 +1072,10 @@ $form-floating-height:                  add(3.5rem, $input-height-border) !defau
 $form-floating-line-height:             1.3125 !default;
 $form-floating-padding-x:               $input-padding-x !default;
 $form-floating-padding-y:               1rem !default;
-$form-floating-input-padding-t:         1.625rem !default;
-$form-floating-input-padding-b:         .625rem !default;
-$form-floating-select-padding-t:        1.25rem !default;
-$form-floating-select-padding-b:        .25rem !default;
+$form-floating-input-padding-t:         1.25rem !default;
+$form-floating-input-padding-b:         .25rem !default;
+$form-floating-textarea-padding-t:      1.625rem !default;
+$form-floating-textarea-padding-b:      .625rem !default;
 $form-floating-label-height:            1.5em !default;
 $form-floating-label-opacity:           .65 !default;
 $form-floating-label-transform:         scale(.85) translateY(-.5rem) translateX(.15rem) !default;
diff --git a/scss/forms/_floating-labels.scss b/scss/forms/_floating-labels.scss
index 794a497e2749..3d0ab2b78044 100644
--- a/scss/forms/_floating-labels.scss
+++ b/scss/forms/_floating-labels.scss
@@ -1,4 +1,6 @@
 .form-floating {
+  --#{$prefix}form-floating-input-padding-t: #{$form-floating-input-padding-t};
+  --#{$prefix}form-floating-input-padding-b: #{$form-floating-input-padding-b};
   position: relative;
 
   > .form-control,
@@ -37,19 +39,19 @@
 
     &:focus,
     &:not(:placeholder-shown) {
-      padding-top: $form-floating-input-padding-t;
-      padding-bottom: $form-floating-input-padding-b;
+      padding-top: var(--#{$prefix}form-floating-input-padding-t);
+      padding-bottom: var(--#{$prefix}form-floating-input-padding-b);
     }
     // Duplicated because `:-webkit-autofill` invalidates other selectors when grouped
     &:-webkit-autofill {
-      padding-top: $form-floating-input-padding-t;
-      padding-bottom: $form-floating-input-padding-b;
+      padding-top: var(--#{$prefix}form-floating-input-padding-t);
+      padding-bottom: var(--#{$prefix}form-floating-input-padding-b);
     }
   }
 
   > .form-select {
-    padding-top: $form-floating-select-padding-t;
-    padding-bottom: $form-floating-select-padding-b;
+    padding-top: var(--#{$prefix}form-floating-input-padding-t);
+    padding-bottom: var(--#{$prefix}form-floating-input-padding-b);
   }
 
   > .form-control:focus,
@@ -70,6 +72,10 @@
   }
   > textarea:focus,
   > textarea:not(:placeholder-shown) {
+    // textareas require additional top padding to prevent label from overlapping text,
+    // and additional bottom padding for when text is scrolled.
+    --#{$prefix}form-floating-input-padding-t: #{$form-floating-textarea-padding-t};
+    --#{$prefix}form-floating-input-padding-b: #{$form-floating-textarea-padding-b};
     ~ label::after {
       position: absolute;
       inset: $form-floating-padding-y ($form-floating-padding-x * .5);