Rep. Mike Flood, U.S. Representative for Nebraska's 1st District | Facebook Website
Rep. Mike Flood, U.S. Representative for Nebraska's 1st District | Facebook Website
U.S. Congressman Mike Flood recently joined U.S. Senator Joni Ernst (R-IA) and more than 50 bipartisan lawmakers in requesting the U.S. Department of Treasury promptly provide guidance on the 45Z Clean Fuel Production Credit. This call aims to provide farmers, blenders, retailers, and fuel users with certainty and sufficient time to implement new clean fuel projects.
“The 45Z credit should be leveraged to provide a forward-looking, technology-neutral market signal to increase our country’s production capacity for low-carbon, domestic renewable fuels and for existing biofuel production to invest in decarbonization,” the lawmakers wrote. “Lack of regulatory certainty is already putting thriving businesses at risk as fuel producers are unable to make important business decisions regarding their fuel.”
The 45Z Clean Fuel Production Credit streamlines and replaces multiple fuel-related credits set to expire soon. Designed to boost domestic production of clean biofuels, 45Z requires further guidance from the Treasury on how farmers and renewable fuel producers can engage in this emerging market.
You can read the full letter here.
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