Articles Tagged with ''45Z''

USDA is making it easier for growers to qualify for a new biofuel tax credit by increasing the number of eligible crops and climate-smart farming practices and dropping a bundling requirement.

Border Patrol raids stoke ag labor fears * CARB leader loses house * Trump cabinet picks on the Hill

The Treasury Department on Friday proposed long-awaited guidance for the new  biofuel tax credit known as 45Z, appearing to limit the use of imported cooking oil but omitting key eligibility requirements for agriculture-based feedstocks.

Today could be a big day for the biofuel industry. The Treasury Department is expected to release highly anticipated interim guidance for the valuable new clean fuel tax credit known as 45Z, industry sources say.

Tax and spending cuts are at the top of the to-do list for congressional Republicans and President-elect Donald Trump. But there are a broad array of other issues in play that are critical to food and agriculture, from farm bill and the next dietary guidelines to regulations for pesticides and gene-edited crops, and the future of the Biden administration's climate policies.

Those in the biofuel industry and lawmakers from biofuel-heavy districts are expecting enough bipartisan support to preserve the 45Z credit in tax reforms next Congress.

Seventy-seven Nobel laureates in medicine, economics, physics and chemistry are urging senators not to confirm Robert F. Kennedy Jr. for secretary of the Department of Health and Human Services. 

Biofuel groups are expressed increasing concern about the lack of guidance from the Treasury Department for a clean fuel tax credit that is set to take effect Jan. 1, saying investment has already slowed due to the uncertainty.