Articles Tagged with ''sustainable aviation fuel''

The biofuel tax incentives in President Joe Biden’s Build Back Better bill could insure a growing market for soybean oil and other farm commodities, but the trucking industry worries the subsidies will kick off a war with the airlines over feedstocks.

The $1.75 trillion Build Back Better bill that congressional Democrats are struggling to get across the finish line offers new incentives to expand production of biofuels while encouraging livestock operations to capture and sell biogas.

Democrats released a scaled-back, $1.8 trillion version of President Joe Biden's Build Back Better plan Thursday that includes key climate-smart ag provisions, including a new $25-per-acre payment for cover crops, while creating a new low-carbon tax credit for biofuels.

America’s corn and soybean farmers are on the precipice of a whole new market for their commodities. If Congress comes through, farmers will be helping fuel the airplanes that crisscross the world’s skies by providing the feedstocks for sustainable aviation fuels.

Agriculture Secretary Tom Vilsack says the Biden administration will be announcing new steps on agriculture and climate “very, very shortly” and also will start filling the department’s state-level leadership positions within days.

Congressional Democrats, who are already struggling to agree on their signature Build Back Better spending plan, face the even more immediate task of averting a government shutdown and default.

A key House Democrat is promising to help fix language in a package of green energy tax incentives that could block U.S. farm commodities from benefiting from a new tax credit for renewable jet fuel.

Following an outcry from farm groups and rural lawmakers, House Democrats proposed a tax package Monday that omits President Joe Biden’s proposal to tax capital gains at death.

Congressional Democrats’ massive Build Back Better spending plan would create a new subsidy for renewable jet fuel while also extending the existing tax credit for biodiesel and renewable diesel through 2031.

U.S. airlines announced a goal to use 3 billion gallons of renewable jet fuel by 2030, and the White House released a plan to spur development of the biofuel the industry will need.