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US clean fuels tax credit likely by end of Biden administration, Agriculture Secretary says
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US clean fuels tax credit likely by end of Biden administration, Agriculture Secretary says
Sep 10, 2024 11:46 PM

WASHINGTON, Sept 10 (Reuters) - U.S. Agriculture

Secretary Tom Vilsack said on Tuesday he is confident that a

clean fuels tax credit program set to take effect in 2025 will

be finalized by end of the Biden administration in January.

The program would provide credits for the production of

lower-emission transportation fuels, including sustainable

aviation fuel (SAF).

"I'm confident that we're going to get 'er done," Vilsack

said at a summit in Washington, D.C., hosted by the biofuels

trade group Growth Energy.

An April guidance for a SAF tax credit disappointed ethanol

producers for requiring corn farmers to bundle a set of

climate-friendly farming practices, meaning little to no ethanol

would qualify.

The USDA is hoping to make more feedstocks and individual

farming practices eligible for the credit and is in conversation

with the energy and transportation departments about how to do

so, Vilsack said.

"We are acutely aware of the calendar. To the level it can

be, it's on a fast-track," Vilsack said.

The Treasury Department will ultimately issue the rule.

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