ABFA calls for immediate 45Z guidance and extension of blender credits
December 5, 2024
BY Advanced Biofuels Association
Michael McAdams, president of the Advanced Biofuels Association (ABFA), released the following statement addressing reports about the Biden administration’s plans to issue guidance on the clean fuel production tax credit:
With only 29 days remaining before the clean fuel production tax credit is supposed to take effect, the Advanced Biofuels Association (ABFA) urges the Biden administration to immediately issue the guidance necessary for the industry to claim the credit. In addition, we call on Congress to extend existing blender credits to mitigate the uncertainty caused by these significant delays. An extension is critical to ensuring a smooth transition, enabling long-term investments, and maximizing the credit’s impact.
Tax credits are only effective when they are consistent, timely, and well-communicated. The prolonged lack of clarity has stalled vital investments and disrupted planning – hindering the ability to achieve national energy goals like producing 3 billion gallons of Sustainable Aviation Fuel (SAF) by 2030.
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ABFA’s members are ready to lead in delivering sustainable energy solutions, but federal action is urgently needed. Congress and the administration must extend blender credits and provide the immediate guidance required to unlock the 45Z credit for 2025.
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