Senator Ricketts’ Weekly Column: Powering the Good Life

Nebraska powers the nation.  We are pioneers of homegrown energy and innovation.  The One Big Beautiful Bill unleashes Nebraska’s power to fuel the world.  It invests in what works and removes what holds us back.  It gives energy producers the backing to power the Good Life.

The One Big Beautiful Bill (OBBB) is a win for biofuels.  Biofuels are a win for consumers, the environment, and farmers and ranchers.  They save Nebraskans money every time they fill up.  Last year, Nebraskans saved $325 million using ethanol blends.  Last time I fueled up with E10 at Hy-Vee, I saved 55 cents per gallon.  Ethanol blends reduce pollutants like carbon monoxide, nitrogen oxide, and particulates.  Biofuels support farmers and ranchers by raising demand for corn and soybeans.  Nebraska is second in the nation for ethanol production, with our 25 ethanol plants and 1,300 local Nebraska jobs.  This biofuel economy adds $6 billion to the state each year.  

OBBB returns 45Z clean fuel production credit profits to American agriculture producers.  This supports biomass-based diesel and ethanol stakeholders across Nebraska.  Only North American-grown commodities are eligible feedstock.  Foreign producers should be prevented from receiving incentives meant for Americans.  This protects Nebraska farmers and raises demand for their crops.  The 45Z credit adds long-term business certainty.  This means more investment and better prices for farmers.  

OBBB repeals $191 billion of Electric Vehicle (EV) tax credits that skewed the tax code.  That includes credits for new, used, and commercial electric vehicles.  EVs don’t work well in rural Nebraska.  Towns like Bloomfield, Alliance, or Valentine, are 45 minutes from the nearest charging station.  When temperatures fall below 20 degrees, EVs lose 40% of their charge.  EV mandates ignored rural realities.  This repeal restores common sense and protects hardworking Nebraskans.   It puts taxpayers back in charge of their own energy decisions.  

OBBB also helps producers invest in energy infrastructure.  It permanently expands full expensing for energy-related business property.  That includes machinery, shop tools, and work trucks.  These are assets that keep fuel pumps pumping and the lights on at home.  We also increased the limit for small business equipment expensing.  That’s how we’re supporting small businesses.  

Producers in Communist China should be prevented from receiving American tax subsidies.  With OBBB, we’re fixing these loopholes.  We’re bolstering American energy, powered by American producers.  America’s energy strength is a powerful tool on the world stage.  Our energy leadership is key to countering Communist China.  Our partners and allies in the Indo-Pacific region are reliant on seaborne energy imports.  Many of them import Nebraska ethanol.  Recently, I hosted a bipartisan Senate exercise studying Taiwan’s energy vulnerabilities with members of the Foreign Relations Committee.  My Senate colleagues and I worked through solutions to counter China’s ability to exploit energy vulnerabilities.  The answer was clear: we need to unleash American energy.  That means more energy exports, a West Coast LNG terminal, and common-sense regulations.    

OBBB promotes trade for American energy.  It bolsters biofuel exports through $285 million for the Supplemental Agricultural Trade Promotion Program.  It doubles funding for trade promotion programs.  This will help us promote exports like ethanol.  It calls for 36 offshore oil and gas leases while streamlining the permitting process for extraction.  OBBB provides long-term energy investments.  It lets America step up as the global energy supplier of choice.   

The energy economy powers modern American life.  Cheaper energy lowers costs for farmers, truckers, and all working families.  It helps farmers and ranchers get their products to market more affordably.  Lower energy costs give families more room to cover daily expenses, like groceries or education.  Efficient energy frees up capital for innovation and small business growth.  As AI and new technologies emerge, energy demand will rise fast.  Finding ways to produce reliable energy in cheaper ways is a win for every aspect of American life.  This bill gets it right.   

Nebraska leads in energy with biofuel innovation.  The One Big Beautiful Bill supports what actually works: real energy for real people.  It repeals what doesn’t work, like government mandates and unfair handouts.  With OBBB, rural communities will gain jobs, stability, and lasting opportunity.  That’s how we power the Good Life.  

As always, my team and I are here to serve you.  Contact us by phone at 202-224-4224 or visit www.ricketts.senate.gov.