WASHINGTON, DC – Michael McAdams, President of the Superior Biofuels Affiliation (ABFA), launched the next assertion addressing studies in regards to the Biden administration’s plans to problem steering on the clear gas manufacturing tax credit score:
With solely 29 days remaining earlier than the clear gas manufacturing tax credit score is meant to take impact, the Superior Biofuels Affiliation (ABFA) urges the Biden administration to instantly problem the steering vital for the trade to assert the credit score. As well as, we name on Congress to increase present blender credit to mitigate the uncertainty brought on by these important delays. An extension is important to making sure a clean transition, enabling long-term investments, and maximizing the credit score’s influence.
Tax credit are solely efficient when they’re constant, well timed, and well-communicated. The extended lack of readability has stalled very important investments and disrupted planning – hindering the flexibility to attain nationwide power targets like producing 3 billion gallons of Sustainable Aviation Gas (SAF) by 2030.
ABFA’s members are prepared to steer in delivering sustainable power options, however federal motion is urgently wanted. Congress and the administration should lengthen blender credit and supply the quick steering required to unlock the 45Z credit score for 2025.
