Trump Win a Win for Rural America
Donald Trump scored a stunning and, to many, unexpected win this week in the presidential election. With a Trump Administration and a majority Republican House and Senate, here are a few potential resulting outcomes for the domestic pellet industry:
- Investments in Rural America. Donald Trump's base resides primarily in rural America, and he has repeatedly recognized the difficulties experienced by rural Americans and their communities. He's also expressed interest in investing in and improving infrastructure. The pellet fuels industry, located large in rural areas, stands to gain from these types of initiatives.
- Comprehensive Tax Reform. Republicans have long indicated a desire to take on comprehensive tax reform, particularly focusing on corporate tax rates. Few expected a Republican Congress and Administration, and now leaders like Sen. Mitch McConnell are enthusiastic about the prospect of implementing their tax policies. On the other hand, the Republican victory may reduce the odds of passing a tax extender package in the upcoming Lame Duck session.
- Clean Power Plan in Jeopardy. It's doubtful that a Trump Administration EPA will continue to support the Clean Power Plan, even if the D.C. Circuit Court decides in its favor. This may negatively impact long term prospects of investing in biomass on the state level.
PFI is closely monitoring developments in Washington, ready to engage with the Trump transition team and new GOP Congress and assessing the impacts for the pellet fuels industry. We will keep PFI members informed.
Congressional Look Ahead: Lame Duck and Beyond
Lame Duck
Members of Congress return to Washington next week to finish out the 114th Congress. Enacting a measure to keep the government funded into 2017 will be a key focus. Recall that the current funding measure runs out December 9. Although we will not know the Lame Duck agenda definitively until Members are back in town, we expect that an omnibus spending bill will be fashioned in the weeks leading up to Christmas. This will be a key opportunity for us to enact some of our policy priorities, including provisions codifying the concept of biomass carbon neutrality. We may also see an energy bill conference committee report come together, where this issue could be addressed. Tax extenders-including the Sec. 25C pellet stove credit and the BTU Act-are also in play. The situation is very fluid.
Congressional leadership elections will also be held. Republicans are expected to hold closed door leadership elections on November 15. Democrats are expected to do the same the following week. There is some speculation that House Speaker Paul Ryan may be challenged, but at this time we expect him to lead the House in the 115th Congress.
Committee Changes in 2017
While there will not be wide scale turnover in committee chairmanships in the Senate, some key panels in both chambers will be subject to changes. On the Senate side, either John Barasso (R-WY) or Shelly Moore Capito (R-WV) will take over for Jim Inhofe (R-OK) as the Senate Environment and Public Works Committee gavel. Under party rules, Inhofe is term -limited in that post.
In the House, chairmanships for both the House Energy & Commerce and Appropriations Committees, among others, will be contested.
We will be compiling a more detailed analysis of leadership and key committee changes in the coming days and weeks and provide our best crystal ball on what we can expect going forward in 2017.
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We urge all PFI members to engage with us on social media. By joining PFI in being visible and active on social media, we can make our voices heard more loudly and by many more audiences.
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Have News to Share on Pellet Wire?
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Please be in touch with Carrie Annand at [email protected] with information on your company's growth, job openings, promotions or other news.
Join a PFI Committee
We welcome and encourage all interested PFI members to get involved in our committees. There are many opportunities to help steer the association. No matter where your expertise and interests lie, we have a committee that will suit you. Help us plan our next conference, shape our policy agenda, lead communications outreach or grow the PFI Standards Program. Visit PFI's website for more information.
