Any more delays around the 45Z tax credit could cause market confusion, lawmakers warn

While the ag community works to factor in the revised net farm income numbers, there is still a lot of concern around the 45Z tax credit, but there is also a lot of confusion, too.

Reuters reports the Biden Administration will not finalize the anticipated guidelines before leaving office, but other outlets, like Bloomberg, have conflicting information. Analysts with DTN say they spoke to officials at the Treasury Department and they say there will be guidance before the new Administration takes over.

Senator Chuck Grassley weighed in on the matter pn X, saying, “Delaying the 45Z guidance will be disruptive to the biofuels industry. The Biden administration’s climate agenda has prioritized pet projects for coastal elites and left middle America behind at every turn. That ends when Republicans take power next year.”

Related Stories
Jed Bower, the incoming president of the National Corn Growers Association, joined us for his sector’s perspective on the ongoing government shutdown.
Treasury Secretary Scott Bessent last week said an announcement would be made on Tuesday. However, that self-imposed deadline has now passed.
Expect firm demand for dependable HRS and SW, steady movement in HRW, more sorting on SRW, and selective bids on durum until full milling results are released.
Dr. Todd Davis, Chief Economist with the Indiana Farm Bureau, shares a snapshot of his state’s harvest conditions and insights from producers.
Market analyst Kevin Huddleston said news of trade deals could rebound cotton prices in late fall, and producers need to be ready to strike deals.

LATEST STORIES BY THIS AUTHOR:

FarmHER Erin Cumings shares how Nationwide’s “Every STEP Counts” helps farm and agribusiness owners prioritize safety.
The idea of buying more beef from Argentina does not sit well with much of farm country, raising some questions from analysts and producers.
As we continue our Countdown to Convention presented by Culver’s, we meet some of the people who help bring the event to life.
Shaun Haney, Host of RealAg Radio, discusses President Trump’s move to halt trade talks with Canada and Mexico over a commercial about tariffs launched by the Government of Ontario.
Input costs are top of mind for farmers, as they contribute to higher prices and smaller profits.
The President’s trip to Asia this week follows a trade mission by the Iowa Soybean Association. Farmers say they were reminded that U.S. soybeans have an international reputation that can be easy to take for granted here at home.