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
With the Farm Bill now in the Senate’s hands, industry groups say the stakes are high—and timely action could be critical for producers navigating a difficult economic environment.
The Texas Department of Agriculture confirmed a New World Screwworm case about 119 miles from the Texas border, near Zapata, Texas, and north and west of the Rio Grande Valley.
Landowners interested in protecting working ground through an easement now have another funding window open until the end of May.
Tennessee corn and soy farmer Josh Ogle joins us to discuss rapid planting progress in the state, improving moisture conditions, and early crop development challenges in the MidSouth region.
Beef is leading the decline as slaughter drops and supplies tighten.
Chad Fiechter joins us to discuss Purdue’s precision ag study, challenges in capturing value from technology, and what farmers should consider when investing in and adopting these tools.

LATEST STORIES BY THIS AUTHOR:

Paul Neiffer joined us to explain how USDA’s base acre expansion will be calculated, outline key deadlines for farmers, and discuss how the changes tie into farm program decisions and the broader Farm Bill outlook.
Ethanol demand held together last week, but lower production and thinner stocks put more focus on export strength. Production capacity is also strengthening over time and benefiting soybean farmers.
Farm Bureau Economist Dr. Faith Parum discusses USDA’s efforts to expand fertilizer capacity, signals for farm profitability, and AFBF’s Farm Bill expectations.
Kansas Congressman Derek Schmidt joins us to discuss House passage of the Farm Bill, its potential impact on farm profitability and stability, key policy compromises, and the outlook for Senate consideration.
The Purdue student team joins us to discuss how they developed Soy-Seal, their innovative soybean-based adhesive tape, and its potential ag impact.