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August 5, 2024

Dear Friend:

 

I was excited to join my fellow Supply Chains Tax Team members in Ohio recently. We took a tour to see for ourselves just how complex oil and natural gas production really is. We also had a productive roundtable discussion on the importance of domestic fuel production for our economy and our national security.

 

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I am committed to American energy independence. I enjoyed hearing the industry perspective regarding what Congress can do, specifically regarding tax policy, to support our fuel production industries and lower energy costs for consumers.

 

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Protecting Farmers and Biofuel Producers

Recently, the U.S. Department of the Treasury issued new guidance regarding the 40B Sustainable Aviation Fuel Tax Credit. Unfortunately, the guidance only recognized three climate-smart agricultural (CSA) practices that would qualify to reduce carbon intensity scores. This is a drastic drawback from the over 50 practices and 100 activities recognized by the U.S. Department of Agriculture. In addition to limiting the CSA practices that qualify, the guidance also requires the CSA practices to be bundled in an all-or-nothing approach. For example, corn growers have to practice no-till farming, cover crop planting, and use “enhanced efficiency” nitrogen fertilizer in order to qualify. Treasury must provide additional flexibility and clarity as it considers guidance for the upcoming 45Z Clean Fuel Production Tax Credit. Our farmers, biofuel producers, and stakeholders are rightfully concerned.

I have cosigned a letter asking the Administration to quickly finalize their guidance, expand on what CSA practices would be allowed, and remove the bundling component of their calculation.

 

 

Thanks for stopping by!

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Thank you to the Associated Builders and Contractors for coming to my office to discuss your workforce, labor, and tax priorities.

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Thanks to Walmart for taking the time to talk to me about your priorities and your annual Open Call event. Check out the Minnesota-made mat!

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It’s always great to see 4-H groups when they’re visiting the Capitol.

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AARP came by my office to discuss support for caregivers and what Congress can do to help. Thanks for the conversation!

 

 

Flood Relief Resources

Many homes and businesses across Minnesota experienced severe flooding this summer. The U.S. Small Business Administration (SBA) works closely with the Federal Emergency Management Agency (FEMA) to provide loans and grants to assist with repair and relief.

The SBA offers Business Physical Disaster Loans to repair or replace damaged property. This includes real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible, including private, non-profit organizations such as charities and churches. Find out if your business is eligible and apply using the SBA portal by September 30

The SBA also offers Economic Injury Disaster Loans (EIDLs) to help meet other needs like ongoing operating expenses. These loans are available even if the organization did not suffer physical property damage. The deadline for EIDL applications is April 29, 2025.

FEMA offers a number of individual assistance programs including unemployment assistance, legal services, and an Individuals and Households Program to help individuals who have uninsured or underinsured necessary expenses and serious needs. To find out what grants or loans you may be eligible for, and to apply, visit disasterassistance.gov.

SBA and FEMA are encouraging businesses to apply for both FEMA grants and the SBA low-interest disaster loan assistance to fully recover. If you need help filling out an application, there is a recovery center in Jackson County that is offering assistance.

For those impacted by the storms in the Melrose area over the weekend, my team is following the situation. We have been in close contact with the city and the county, and will keep you informed of resources as they become available. In the meantime, do not hesitate to contact my office for assistance.

 

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Thank you for reading!

As always, my office is open and ready to serve constituents of Minnesota's Seventh Congressional District! Please do not hesitate to get in touch if there is anything I can do to help. Have a great week, and if you see me at Farm Fest, be sure to come say hello!

 

Sincerely,

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Michelle Fischbach

Member of  Congress

 

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