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.”
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Modest rate relief may come late in 2026, but borrowing costs are likely to stay elevated.
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U.S. Senator Roger Marshall of Kansas discusses expected changes to the 45Z tax credit and what they could mean for agriculture and rural America.
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Securing Critical Water Resources for South Texas Agriculture
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Texas Agriculture Commissioner Sid Miller discusses the state’s latest efforts to prevent the New World screwworm from reaching Texas.
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