Articles Tagged with ''House Ways and Means Committee''

The Biden administration is moving ahead with its plan to finance new meat processing capacity.

Democrats hope to get President Joe Biden’s Build Back Better bill to the finish line in December, but first they face a more urgent stalemate with Republicans ahead of Friday’s expiration of a stopgap funding bill.

Democrats’ massive Build Back Better bill not only protects stepped-up basis, it also includes a long-sought change in an estate-tax provision that could have far-reaching benefits for many farms.

The key committee provisions in the $3.5 trillion reconciliation package show that Democrats in Congress are in line with President Joe Biden’s vision to put electric vehicles — not biofuels — at the forefront of the fight against climate change.

The agriculture portion of the $3.5 trillion spending package that Democrats are putting tougher is still a work in progress. In addition to $28 billion in conservation spending that still needs to be added to the legislation, there also will be some new farm debt relief.

A key House Democrat is promising to help fix language in a package of green energy tax incentives that could block U.S. farm commodities from benefiting from a new tax credit for renewable jet fuel.

Following an outcry from farm groups and rural lawmakers, House Democrats proposed a tax package Monday that omits President Joe Biden’s proposal to tax capital gains at death.

House Democrats look to finish pulling together their $3.5 trillion tax and spending package this week, despite a fierce internal struggle over the taxes they need to pay for it and delays in finalizing $94 billion in agriculture provisions.

Congressional Democrats’ massive Build Back Better spending plan would create a new subsidy for renewable jet fuel while also extending the existing tax credit for biodiesel and renewable diesel through 2031.

The Agriculture Department this morning is releasing the strategy it will follow in re-shaping programs and policies to help more farmers shift into “climate-smart” practices and to make money from doing so.