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“On agreeing to the Craig amendment (A016) Agreed to by voice vote.”
This amendment increases the maximum amount the USDA can guarantee for individual loans to companies building biorefineries or manufacturing bio-based products. By raising the limit from $250 million to $400 million, the government can help larger-scale renewable energy and chemical projects secure the private funding they need to get started.
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“On agreeing to the Craig amendment (A016) Agreed to by voice vote.”
This amendment increases the maximum amount the USDA can guarantee for individual loans to companies building biorefineries or manufacturing bio-based products. By raising the limit from $250 million to $400 million, the government can help larger-scale renewable energy and chemical projects secure the private funding they need to get started.
Large-scale bio-manufacturing projects often require hundreds of millions of dollars in start-up costs. This change allows the federal government to provide the financial safety net needed for these larger, more complex facilities to be built.
Agricultural businesses, biorefineries, and chemical manufacturers focusing on renewable materials are most directly impacted.