When I was out in Washington, D.C. earlier this year, the Treasury Department was releasing tax credit information for Clean Fuel Production. 45Z is the credit code for biofuel producers to increase domestic production. However, guidance for the 2025 rule is slow and must be commented on and adopted very soon.
While the deadline is still to come, Senator Joni Ernst and a bipartisan group of AgState lawmakers are pushing the Treasury Department to expedite the definitions, so farmers and biofuels producers can be ready for next year’s rules. The argument is that there is no way to change farming practices or retool facilities that produce biofuels quickly.
Here’s my conversation with the Senator on this topic.
A copy of the letter can be found here.
