‘Devastating to Agriculture’: Farm Bureau Sounds Off On Biden’s ‘Build Back Better’ Investing Bill
Agriculture and oil and gas industries condemn the particular proposed methane tax in Biden’s $3. 5 trillion reconciliation bill.
The American Farm Bureau Federation (AFBF) warned that Joe Biden’s $3. 5 trillion spending bill would “ without doubt put family farms away from business” if passed.
AFBF Vice President for Public Matters Sam Kieffer put out a statement clarifying a proposed methane tax in the expenses, noting that while a methane tax is included for the oil and gas industries, so such tax exists for the agricultural field thanks to a Senate variation.
“ To clear up any confusion, I wish to make clear that the current vocabulary of the reconciliation bill does not impose a methane taxes on agriculture, ” Keiffer said .
“ On the summer, American Farm Agency economists conducted an analysis, at the request of Congressional committee staff, to determine the potential impact if agriculture were to be included in legislation imposing such a tax. We did therefore based on the formula set forth in legislative proposals that enforce a methane tax over the oil and gas sectors. We think this analysis was helpful and helpful in demonstrating that such a tax might have been devastating to farming. ”
“ While we oppose any tax on methane, Farm Bureau is grateful in order to lawmakers for recognizing the particular thin margins in farming and that such a tax would undoubtedly put family facilities out of business. We are especially grateful towards the Senate for passing an amendment that specifically exempts agriculture . ”
The AFBF’s calculations on the methane tax calculate the impact on the farming sector would have amounted to over $414 billion dollars dollars when added into the bill.
Representatives for the gas and oil industry penned a letter to the Senate last 30 days criticizing the methane taxes, claiming it “ undermines” economic competitiveness and energy production.
“ We also note that the particular BBBA [Build Back Better Act] methane tax will harm U. S. competitiveness internationally, ” the letter stated. “ A unilateral tax on U. S. businesses and their exports whenever competing with global goods is a critical flaw. Impacting such a significant fee on U. S. businesses – and any tax this significant – undermines Oughout. S. energy production, erodes U. S. economic competition, and weakens our nationwide security. ”
“ This costly policy could result in the leakage associated with jobs and greenhouse fuel emissions to other countries. This is not ‘ building back better, ‘” the letter added.
Pelosi has postponed the vote for Biden’s bill to October 31 to buy time for the Democrats to pressure holdout Sens. Kyrsten Sinema (D-Ariz. ) and Joe Manchin (D-W. V. ) to give so the bill will pass.
A methane tax for agriculture will just have to wait to be slipped into another Democrat costs in the future.
Resident Biden is gonna manage to even damage the Holidays .
