Articles Tagged with ''45Z''

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.

China is ending an export tax rebate for used cooking oil, a common feedstock for renewable diesel, in a move analysts say could spur higher prices and prompt U.S. biofuel producers to explore other oil sources.

Republicans are seeking input from biofuel stakeholders on what future tax policy should look like now that the GOP will have control in the White House and both chambers of Congress.

Along the campaign trail, President-elect Donald Trump had vowed to repeal parts of the Biden administration's landmark climate law, the Inflation Reduction Act. Now facing a second Trump administration, industry groups are hopeful broad bipartisan support for biofuels and conservation programs in Congress means these initiatives will remain in place. 

Farm groups are re-upping concerns that the next phase of biofuel tax credits could still include bundling requirements that some say could limit opportunities for farmers.