Farm Belt lawmakers push for biofuel investment and tax credits in new bills [Financial Post (Toronto, Ontario, Canada)]
Archer-Daniels-Midland Company (ADM)
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Source: Financial Post
Billions of dollars in federal investments and tax credits to boost demand for U.S. biofuels will be part of two bills that Democratic lawmakers will introduce to the U.S. Congress, two sources familiar with the plans said. Congress members from rural states will introduce bills in coming weeks seeking federal funds to add more high-biofuel blend pumps at retail stations and tax credits for automakers that put more “flex-fuel” vehicles on the road. Advertisement President Joe Biden was expected to give an update on Monday on whether the White House will accept a pared-down infrastructure bill negotiated by bipartisan group of lawmakers. If that happens, the sources said, the biofuels bills could be rolled into a massive spending bill with economic priorities Biden omitted from the infrastructure talks. Democrats and the White House hope the spending bill will pass along party lines this fall in a process called reconciliation. The biofuels industry, including Archer Daniels Midlan
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