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Shining Light on Farm & Food Policy for 20 Years.
Monday, September 16, 2024
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 House Agriculture Committee debated $66 billion in new spending for agricultural research, renewable energy and forestry over strenuous objections of Republicans, who used the deliberations to highlight President Joe Biden’s proposal to increase taxes on inherited assets.
The House Agriculture Committee is set to debate legislation today that would provide major increases in spending for agricultural research, clean energy and conservation programs.
U.S. airlines announced a goal to use 3 billion gallons of renewable jet fuel by 2030, and the White House released a plan to spur development of the biofuel the industry will need.
House Democrats are proposing historic funding for conservation programs, agricultural research, renewable energy and forestry and other climate-related priorities as part of a $3.5 trillion tax and spending package.
Sources familiar with the agriculture provisions in the massive spending package Democrats are putting together expect it to include historic increases in conservation and research spending totaling nearly $36 billion.
House Democrats are proposing a $35 billion expansion of child feeding assistance as part of their massive tax and spending package, and a lawmaker announced Wednesday that the measure also would include $1 billion in biofuel aid.
House Democrats are moving ahead this week with debating key provisions of the $3.5 trillion tax and spending package. The House Ways and Means Committee has announced plans to take up the health care, paid leave and child care provisions Thursday and Friday. That would push its action on tax issues into next week.
House Democrats are forging ahead with writing a massive new tax and spending package with major implications for the next farm bill as well as producers’ finances.