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
Farm bill negotiations remain unsettled, leaving producers waiting for updated federal support programs.
Roger McEowen of Washburn University School of Law joined us to discuss key legal and tax issues ranchers should consider as they recover from recent prairie fires across the Southern Plains.
Texas lawmakers secure funding for sterile fly production as officials work to stop the New World screwworm from spreading into the U.S. cattle herd.
Pennsylvania Secretary of Agriculture Russell Redding discusses the recent surge in bird flu cases, the state’s expanded biosecurity response and efforts to support poultry producers.
Geopolitical risk is rapidly increasing fertilizer price volatility before planting.
Kurt Kovarik of Clean Fuels Alliance America joined us to break down the latest developments in the Renewable Fuel Standard rulemaking process and what it could mean for agriculture, energy markets, and rural economies.

LATEST STORIES BY THIS AUTHOR:

Jones Hamilton Company shares insights on herd health, efficiency, and innovation for cattle producers this year at NCBA CattleCon in Nashville.
Lewis Williamson with HTS Commodities discusses current farmer sentiment, trade considerations, and the market factors shaping the outlook for the upcoming planting season.
University of Nebraska-Lincoln President Dr. Jeffrey Gold talks about heart health and preventive care for viewers in rural communities.
Jeramy Stephens of National Land Realty breaks down current trends in the farmland real estate market and how landowners should consider water availability and its impact on land values as they plan for the year ahead.
The Fort Worth Stock Show and Rodeo continues through Saturday, showcasing livestock, youth involvement, and agricultural talent, with the Junior Sale of Champions serving as the culmination of the 23-day event.
We caught up with John Deere’s Hay & Forage Got-To Market Manager Kaylene Ballesteros to learn how tech is evolving how producers make hay, from baling efficiency to operator confidence.