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
Lewis Williamson with HTS Commodities joins us to break down the latest USDA crop progress report, share insights from growers, and discuss how global factors are shaping planting decisions this season.
Growers are making progress with planting despite dry conditions.
House lawmakers push toward a Farm Bill vote as debate grows over E15, Prop 12, and input costs, with farmers seeking certainty and policy updates.
RFD News correspondent Frank McCaffrey spoke with the Texas Shrimp Association at the Port of Brownsville about the future of the USDA’s new Office of Seafood.
Rotational grazing can improve pasture use and soil health while helping control feed and drought-related risk.
March cold storage data showed generally tighter year-over-year stock levels across several key meat and dairy categories.

LATEST STORIES BY THIS AUTHOR:

As part of this effort, USDA will establish a new National Food Safety Center (NFSC) in Urbandale, Iowa, which will serve as the primary hub for FSIS administrative, technical, and support operations.
Kansas row crop farmer Brad Keeler joins us to discuss drought conditions, planting decisions, input costs, and overall farmer sentiment in his region.
AFBF Economist Danny Munch joined us to discuss snowpack levels in the Colorado River Basin, water supply concerns, and the potential impact on agricultural production.
Congressman Gary Palmer of Alabama joined us to discuss federal overreach, transparency efforts, and legislative solutions impacting agriculture on this week’s Champions of Rural America.
Donald Chase of Chase Farms joined us to discuss drought conditions, planting progress, input costs, and the outlook for Georgia agriculture.
New farm bill amendment renames the 1890 National Scholars Program after Rep. David Scott, highlighting support for HBCU ag education.