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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, July 17, 2024
Now that President Donald Trump has signed the historic $2 trillion economic relief package into law, work now turns to getting the money out as quickly as possible. “This doesn’t do anybody any good if it takes a long time,” Treasury Secretary Steven Mnuchin said on CBS Face the Nation on Sunday.
Farm groups have been nervously watching the high-stakes talks on a massive economic stimulus package between congressional leaders and Treasury Secretary Steven Mnuchin.
Mike Bloomberg is pouring money into advertising and moving up in the polls after skipping the Iowa caucus that traditionally forces many candidates to take positions on farm policy.
As much as growers long for an end to the trade war with China, there are long-term threats to demand for corn, soybeans and other crops that could depress commodity prices for years to come and lead to calls for higher government spending, economists say.
Biofuel advocates may be fuming about the Environmental Protection Agency's recent actions granting small refinery exemptions to oil refineries, but they'd better check their rearview mirror. Electric vehicles may soon have policy in place to put them in the energy passing lane as climate talks in Congress move ahead.
Leaders of several biofuel companies tell Trump administration officials at a White House meeting that they need to make up for ethanol usage that is exempted by future refinery waivers, sources say.
The Environmental Protection Agency has granted 31 small refinery exemptions from the 2018 Renewable Fuel Standard compliance year, a move that immediately angered the biofuel industry.
The House Ways and Means Committee advanced a tax bill that would extend the biodiesel tax credit and other items related to blending infrastructure and wind, but the legislation will face objections in the Republican-controlled Senate.