Senate Democrats are proposing a tariff on carbon-intensive imports that critics say could increase farm production costs and invite retaliation by countries that would see the tax as unfairly protectionist.
The $3.5 trillion reconciliation package that Senate Democrats are putting together could have significant implications for agriculture when it comes to taxes and climate policy. One aspect to watch: A proposed border adjustment tax on carbon.
Senate Agriculture Committee Chairwoman Debbie Stabenow says she’s “very optimistic” that substantial new funding for farm bill conservation programs will be included in the $3.5 trillion spending agreement that Democrats have announced. Stabenow has been seeking $50 billion in new conservation funding to promote climate-friendly farming practices.
Climate and infrastructure continue to be front and center on Capitol Hill. The Senate Finance Committee will debate a package of clean energy tax incentives today, while Republicans prepare a new counter-proposal on infrastructure spending ahead of the upcoming Memorial Day break.
President Joe Biden’s drive to shift Americans to electric vehicles, something he showcased in a visit to a Ford electric vehicle plant on Tuesday, is getting pushback from Republicans on a couple of fronts.
The Senate Finance Committee is focusing today on how to fund a massive infrastructure package. The witnesses at today's hearing will include Shirley Bloomfield, CEO of NTCA–The Rural Broadband Association, who will be offering some options for structuring funding mechanisms.