Items Tagged with 'Inflation Reduction Act'

House GOP leaders were facing heavy pressure from farm groups and their allies in Congress on Sunday to add economic assistance for row crop producers to a year-end stopgap spending bill. House Democrats will pick a ranking member for the House Agriculture Committee on Monday.

Democrats on the House and Senate Agriculture committees are proposing $10 billion in market relief for farmers as the parties spar over an extension of the 2018 farm bill, Agri-Pulse has learned. House GOP leaders, however, have so far objected to the method used to cover the cost of the farm payments. 

Those in the biofuel industry and lawmakers from biofuel-heavy districts are expecting enough bipartisan support to preserve the 45Z credit in tax reforms next Congress.

Biofuel groups are expressed increasing concern about the lack of guidance from the Treasury Department for a clean fuel tax credit that is set to take effect Jan. 1, saying investment has already slowed due to the uncertainty.

President-elect Donald Trump is setting up a cabinet of unusually diverse views and backgrounds that together could have a far-reaching impact on the food and agriculture sectors. Farm groups will be counting on his pick to lead USDA, Brooke Rollins, to be an advocate for ag within an administration. North Dakota Gov. Doug Burgum could be a key ally on energy policy.

Brooke Rollins, president of the America First Policy Institute, an organization closely allied with President-elect Donald Trump, has been selected to serve as agriculture secretary.

China is ending an export tax rebate for used cooking oil, a common feedstock for renewable diesel, in a move analysts say could spur higher prices and prompt U.S. biofuel producers to explore other oil sources.

Those in the agriculture industry believe that conservation programs will be largely unaffected by the incoming second Trump administration, with the fate of remaining Inflation Reduction Act conservation funding in the hands of Congress.

Along the campaign trail, President-elect Donald Trump had vowed to repeal parts of the Biden administration's landmark climate law, the Inflation Reduction Act. Now facing a second Trump administration, industry groups are hopeful broad bipartisan support for biofuels and conservation programs in Congress means these initiatives will remain in place.