Sponsored by:

StoneX Financial Inc.
   
 

Contacts: Sherri Stone; Rob Underwood; Mark Morgan

 

Congressional Leaders Release
Federal Government Funding Bill

December 18, 2024 NFCH-24-06
 
Congressional leaders finalized a deal Tuesday to extend government funding, approve more than $100 billion in disaster aid and advance numerous bipartisan priorities that had been awaiting action for months. If approved this week as expected, the Continuing Resolution (CR) will extend government funding to March 14 and give the Republican “trifecta” (Trump White House, House and Senate Republican majorities) three months to address government funding in line with conservative principles.

The Tuesday night deal comes after days of waiting, disagreements over a disaster aid package, and negotiations regarding last-minute attempts to attach various program reauthorization onto the CR, which include farm subsidy programs, a one-year extension of the Farm Bill, and healthcare reauthorizations. Among the provisions is language allowing for year-round, nationwide sales of E15. Efforts by Midwestern lawmakers to include the E15 year-round waiver created rifts among House Republicans who ultimately relented to inclusion.

The legislation removes the need for the EPA to invoke its emergency waiver authority for summer E15 use and overrides state petitions submitted by Midwest Governors to remove the one pound per square inch (psi) Reid Vapor Pressure (RVP) volatility waiver for E10 blends in their states. EMA was concerned that the 1 psi exclusion waiver would likely require the creation of a boutique fuel exclusive to the petitioning states, thus limiting gasoline supply to the region and other parts of the country. Additionally, the bill grants limited Renewable Fuel Standard (RFS) compliance relief for 2018 to certain small refineries. As a result, once President Biden signs the Continuing Resolution (CR), E15 sales will be allowed nationwide, taking effect immediately.

Notably, inclusion of the E15 language on an appropriations bill opens the door to request additional Higher Blend Infrastructure Incentive Program (HBIIP) funding via government funding legislation. This is in addition to HBIIP funding opportunities EMA is pushing on authorizing legislation like the Farm Bill. You can view our HBIIP issue brief by clicking here.

Upon passage of the CR later this week, lawmakers will leave DC and return in early January to begin the 119th Congress.
 
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