Trump’s red-dyed diesel order sounds like a tax cut. Economists say it’s a 24-cent IOU that could raise prices for farmers

Donald Trump issued an executive order regarding red-dyed diesel that functions as a tax deferral rather than a cut. Economists state the 24.4-cent federal tax delay on $6.20-a-gallon diesel adds no new supply and may increase prices for farmers. While industry groups appreciate the expanded off-road diesel use, farmers and truckers report limited relief. Truckers specifically face difficulties due to varying state rules, and many farmers already possessed access to the fuel.