Two key factors determine the fate of biofuel tax credits

Senate Majority Leader John Thune says the future of biofuel tax credits, including those for sustainable aviation fuel and biodiesel, will come down to two key factors: getting enough votes and finding the right energy strategy.

“As we work through reconciliation, there’ll be some give and take, and obviously, conversations around some of the energy policies and provisions that are in place today. I think most of us up here agree that an ‘all of the above’ energy strategy when it comes to American energy’s the right one, but, at the end of the day, it’s about making America energy, not only energy independent, but energy dominant.”

Four Senate Republicans recently urged Thune to take a careful approach when reviewing tax incentives from the Inflation Reduction Act. Many in the party want to scale back clean energy credits to help pay for extending the 2017 tax cuts, which were passed under President trump’s first term.

Related Stories
Sen. Roger Marshall joined us to discuss rising input costs, farm support efforts, and legislation aimed at strengthening domestic fertilizer supply.
Charly Cummings with Superior Livestock Auction joined us to discuss today’s cattle offering, market demand, and what producers should watch as they plan upcoming sales.
David Fisher with the American Lamb Board joined us to discuss a new sustainability program designed to boost producer profitability while supporting stewardship practices.
David Gruchot with USDA APHIS joined us to discuss the growing threat of invasive pests and the steps individuals can take to help protect U.S. agriculture.
Seafood producers gain expanded access to USDA support programs.
Lawmakers say payments will support schools, infrastructure and public safety in rural communities.

LATEST STORIES BY THIS AUTHOR:

Charly Cummings with Superior Livestock Auctions provides a real-time look at cattle market activity, demand trends, and what lies ahead for upcoming livestock auctions in Texas.
North Carolina Farmer Trey Braswell joined us to discuss the White House Easter Egg Roll, his company’s continued involvement, and efforts to expand access to eggs nationwide.
Rancher and Americans for Prosperity Director Tyler Lindholm breaks down the Wyoming Food Freedom Act, clarifies licensing questions, and discusses the future of local agriculture in the state.
Farm Bureau Economist Dr. Faith Parum warns farmers to brace for more losses as the war in Iran sends shockwaves through the ag economy and raises input costs even further.
Fewer DEF-related shutdowns could mean more uptime during planting and harvest seasons.
New Nebraska wildfires near containment, but damages still mount for ranchers across the region.