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
Spring Weather Splits Conditions Across American Farm Country
NAAA’s Andrew Moore joins us to discuss the role of ag aircraft in crop protection and emerging concerns surrounding stolen agricultural drones.
Dr. Peter Beetham with Cibus joins us to discuss the Supreme Court review of a case about glyphosate use, its potential impact on Bayer and Roundup, farmers who use the products, and the ag industry as a whole.
Meredith Petersen joined us to discuss the National Swine Health Strategy, how it was developed through industry collaboration, potential challenges ahead, and its expected benefits for pork producers.
K-State researchers advise producers to take action, highlighting that prevention is essential for controlling tick populations as cases spread West.
Shaun Haney joined us to discuss rising concerns over farmland ownership in Canada, actions being considered by provinces and farm groups, and the potential impacts of tighter regulations.

LATEST STORIES BY THIS AUTHOR:

ASFMRA’s Dennis Reyman joined us to discuss planting progress, crop trends, grain movement, and farmland market activity in Iowa.
RealAg Radio host Shaun Haney joins us to discuss Canada’s advisory committee and the upcoming USMCA review and its potential impact on agriculture.
The massive Morill wildfire left Nebraska ranchers facing major losses, as relief funds and federal aid step in to support recovery efforts.
Led by Sen. Rand Paul, lawmakers aim to prevent a November federal hemp ban, advocating for state control as farmers face planting uncertainties.
U.S. Rep. Dusty Johnson of South Dakota joined us to discuss rising input costs, fertilizer transparency efforts, and the role of trade in supporting farmer profitability.