US Clean Fuels Tax Credit likely to end Biden administration by the end of Biden administration says Agriculture Secretary

Tom Vilsack, U.S. agriculture secretary, said Tuesday that he was confident the clean fuels credit program scheduled to go into effect in 2025 would be finalized before the end of Biden's administration in January.

The program will provide credits for production of low-emission fuels such as sustainable aviation fuel.

Vilsack told a Washington, D.C. summit hosted by Growth Energy, a trade group for biofuels, that he was confident they would get the job done.

The April SAF guidance disappointed ethanol producers because it required corn farmers to bundle together a number of climate-friendly agricultural practices. This meant that little or no ethanol could qualify.

Vilsack stated that the USDA hopes to expand the number of feedstocks, and farming practices eligible for credit. It is currently in discussion with the Energy and Transportation departments to determine how to achieve this.

We are very aware of the date. Vilsack stated that the project is moving quickly to the best of its ability.

The Treasury Department will issue the final rule.

(source: Reuters)