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Shining Light on Farm & Food Policy for 20 Years.
Saturday, November 09, 2024
Republicans blocked the Senate on Thursday from taking up a House-passed tax bill that includes improvements to valuable expensing provisions used by farmers, as well as an expansion of the child tax credit.
A bipartisan group of senators is pushing the Treasury Department to restrict the new 45Z clean fuels tax credit to domestically sourced feedstocks. That would prevent imports of used cooking oil from qualifying for the tax subsidy.
USDA has issued one-time payments to farmers, ranchers and forest landowners across the country who experienced discrimination in farm loan programs or did not equitable access to federal resources prior to the start of the Biden administration. In all, $2.2 billion has been disbursed.
Senate Majority Leader Chuck Schumer, D-N.Y., is challenging Republican colleagues to vote for a House-passed tax bill that includes an expansion of the child tax credit and improvements in expensing provisions that are popular with farmers.
The Senate Appropriations Committee looks to advance the rest of its fiscal 2025 spending bills, including measures that fund federal water resource agencies and the Labor Department, ahead of the long August recess.
Criticism of a proposal from federal bank regulators highlighted a hearing on reauthorization of the Commodity Futures Trading Commission in the House Agriculture Committee Thursday.
The House has narrowly passed a spending bill containing deep cuts to EPA's budget and dozens of legislative riders that Democrats call “poison pills," setting up a difficult negotiation with the Senate, where the Appropriations Committee advanced a markedly different bill Thursday.
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