Senator Marshall: The 45Z Tax Credit Is the Biggest Agricultural Win of The Year

Senator Marshall Joins RFD TV to Discuss 45Z Guidance

Washington - On Wednesday, U.S. Senator Roger Marshall, M.D. (R-Kansas), joined Eliza Petry on RFD-TV's Market Day Report to discuss President Trump's announcement of guidance to the 45Z tax credit, enacted in the Working Families Tax Cuts, and the positive effects it will have on Kansas agriculture.

Click HERE or on the image above to watch Senator Marshall's full interview.

On the 45Z tax credit:

"Eliza, well, this is an example of promises made, promises kept by President Trump. This is one of the key issues I spoke with him about during his campaign, and how important this was to the American farmer. American farmers make money when we take corn and turn it into beef, or we take corn, soybeans, sorghum, and wheat and turn them into ethanol or biofuels. I want you to think about this. In an average year, America exports about 2 billion bushels of corn. This program is going to probably allow us to consume twice that amount, turning it into jet fuel, turning it into biofuels, if that's making sense. And then also it's going to reward farmers for doing regenerative practice as well. So, I think that this is huge for rural America. It's huge for ethanol plants. It's huge for our farmers out there as well. And just my hats off to Secretary Rollins, Secretary Besant and their teams working with the President to get this right. So, I think this will actually be the biggest news of the entire year for American agriculture."

On clarity and certainty for farmers:

"So, I think especially our ethanol plants, have been sitting and waiting for this clarity, and they're ready to go now, and they know that because of the tax credits that they're going to be able to do this, and we gave them three, I think, three years of certainty. So the certainty is what's important if they're going to make hundreds of millions of dollars investments in an ethanol plant, which are the hub of rural America in so many ways with employees, then they need this certainty, and by the way, it's going to keep China from sending us palm oil and all the tricks that they do as well. So, this is prioritizing American farmers, and it tells them the rules of the road. And I go back to these regenerative agriculture practices, where we're going more with less. A lot of my farmers are already embracing them. I think this will help us go to the very next step, and then as we work on connecting the carbon markets to that regenerative agriculture, I think it's a sustainable way of living and getting away from, you know, so far, the President has given the American farmers $40 billionsince he was inaugurated. But all my farmers look, we want to move away from aid, and I can't emphasize enough that our export markets are up this year. Farmers make money when we have a value-add product like biofuels and jet fuel."

On the benefits to rural communities:

"Yeah, so certainly, rural America continues to struggle economically. It doesn't take as many people on the farm as it used to. We have an exodus of people from rural communities to the big cities, but this is an anchor, and these ethanol plants are very much an anchor. And then, of course, so many of the products that we do grow, these commodities, are going to go through the local the co-ops, and all those people that are employed in in town that are related to agriculture as well. So, this will help with the backbone of the local rural economies as well. And again, you just think about this. This will mean we could double the amount of exports of corn, and soybeans that wouldn't touch what we're going to be doing from a consumption standpoint because of this as well. So again, this is the biggest news of this entire year when it comes to dollars and cents for rural America."

On Kansas cattle producers:

"Thank God for beef, right? It is the strong portion right now, the entire agriculture sector. All of President Trump's trade agreements overseas from Trump 45 have allowed us to export more and more of a high-value beef product as well. I want to especially shout out to the family of the late Bob Foote, who is from Kansas and is being inducted into the Cattle Feeders Hall of Fame. The Foote family is an anchor for so much of rural Kansas as well, just a legendary person out there blazing a trail for the rest of us. And now, as I understand it, Kansas processes about a third of all the beef in them in America, and a lot of that, of course, with those feedlots as well, again, part of the backbone of the American rural economy are these feedlots. So, God bless the American farmers, the American ranchers. Finally, the ranchers are making a little bit of money."

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