With just days left in office, the Biden Administration has released information about the 45-Z tax credit. However, biofuels groups argue the plan lacks critical details.
When it comes to renewable fuels, the Treasury Department says used cooking oil will not be included in the 45-Z credit, and they say that is to help limit concerns around mislabeled oils. In addition, the Energy Department is also expected to update the GREET model, which will determine the emissions rated for 45-Z.
Industry groups say they are disappointed by the release, saying it lacks key details farmers need.
The Renewable Fuels Association’s Geoff Cooper says, “We do not believe this guidance alone will spur the investment, innovation, and job creation in the clean fuels sector that Congress and the Administration intended. It simply isn’t bankable, investable, or otherwise actionable for the vast majority of biofuel producers.”
Rep. Dusty Johnson of South Dakota joined us to discuss rising input costs, proposed fertilizer legislation, and potential support for farmers navigating tight margins.
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Summer fuel rules cap ethanol demand and limit corn upside.
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Roger McEowen breaks down the EPA’s updated dicamba regulations and shares what farmers need to do to remain compliant under the new rules this growing season.
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Effort aims to reduce wildfire risk in Western Colorado communities
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Tariff refunds are underway, potentially returning billions to importers, as agriculture groups push for a larger role in trade policy and investigations.
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