At the eleventh hour, GOP Representatives agreed to cut some biofuel tax credits that had been taken out of the House Debt Limit Bill. With a flurry of pushback from Midwest Governors and industry leaders, the House Rules Committee yielded to demands to protect the $1 per-gallon Biodiesel and Renewable Diesel Tax Credit.
Committee members also removed language from the bill that would have limited a tax credit for carbon sequestration. The committee meeting, lasting until 2 a.m., came after the Iowa, Minnesota, Wisconsin, Nebraska and South Dakota congressional delegations raised concerns about the GOP plan to include biofuel tax credits in the debt-ceiling bill.
Read more on the just-in-time move to support biofuel policies here.
Scout Now for Early-Season Corn Pests, DiseasesJune 8, 2023
Early-Season Drought Expected to Continue Despite Scattered PrecipitationJune 6, 2023
Improve Dairy Cow Fiber Degradation to Save on Feed Costs, Improve ProductionJune 6, 2023
Maximizing Starter Intake Could Lead to Financial Benefits for Dairy ProducersJune 8, 2023
Cash Cattle Market Climbs Post-HolidayJune 6, 2023