# Senator Marshall Leads Letter Fighting For Farmers with Biofuel Tax Credit - Senator Roger Marshall

> Senator Roger Marshall led a bipartisan letter asking the Treasury Department to limit the 45Z clean fuel tax credit to renewable fuels made from domestic feedstocks. The letter cites heavy imports of used cooking oil, which it says have pressured U.S. soybean and corn oil prices.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/29358-senator-marshall-leads-letter-fighting-for-farmers-with-biofuel-tax-credit
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

If Treasury restricts eligibility to domestic feedstocks, demand for U.S. soybean oil from biodiesel producers would rise and imports of cheaper used cooking oil would fall. The outcome is still uncertain because Treasury has not yet issued a rule.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2024-08-05 | [US Sen. Marshall leads letter calling for domestic feedstocks only in 45Z biofuel tax credit](https://feedsoft.ai/events/15194-us-sen-marshall-leads-letter-calling-for-domestic-feedstocks-only-in-45z.md) | +1.0% | +0.7% |
| SBO | 2017-04-26 | [Grassley, Cantwell Lead Group of 14 Senators to Bolster Renewable Fuels with Biodiesel Tax Credit](https://feedsoft.ai/events/71382-grassley-cantwell-lead-group-of-14-senators-to-bolster-renewable-fuels-with.md) | +2.4% | +2.4% |
| SBO | 2019-06-12 | [Buffeted by trade winds, soybean farmers seek tax credit renewal - Roll Call](https://feedsoft.ai/events/58472-buffeted-by-trade-winds-soybean-farmers-seek-tax-credit-renewal-roll-call.md) | +4.1% | +2.8% |
| SBO | 2019-02-22 | [Tax credit urged for biodiesel](https://feedsoft.ai/events/60468-tax-credit-urged-for-biodiesel.md) | -1.7% | -4.6% |
| SBO | 2018-09-20 | [Biofuel Supporters Ask Trump for RFS Support \| Red River Farm Network](https://feedsoft.ai/events/62926-biofuel-supporters-ask-trump-for-rfs-support-red-river-farm-network.md) | +4.5% | +8.5% |
| SOY | 2024-08-05 | [US Sen. Marshall leads letter calling for domestic feedstocks only in 45Z biofuel tax credit](https://feedsoft.ai/events/15194-us-sen-marshall-leads-letter-calling-for-domestic-feedstocks-only-in-45z.md) | -0.1% | -4.6% |
| SOY | 2019-06-12 | [Buffeted by trade winds, soybean farmers seek tax credit renewal - Roll Call](https://feedsoft.ai/events/58472-buffeted-by-trade-winds-soybean-farmers-seek-tax-credit-renewal-roll-call.md) | +6.3% | +3.9% |
| SOY | 2019-02-22 | [Tax credit urged for biodiesel](https://feedsoft.ai/events/60468-tax-credit-urged-for-biodiesel.md) | -1.5% | -0.1% |

## Sources

- marshall.senate.gov: https://www.marshall.senate.gov/newsroom/press-releases/senator-marshall-leads-letter-fighting-for-farmers-with-biofuel-tax-credit/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.