Treasury's 45Z Guidance: A Win for American Farmers and Biofuel Industry

American Farm Bureau Federation President Zippy Duvall commented today on the U.S. Treasury’s release of new guidance on the implementation of the 45Z Clean Fuel Production Credit. “Farm Bureau appreciates the prioritization of America’s farmers over foreign importers in the proposed clean fuel production tax credit. We met with the Biden administration and advocated for this domestic feedstock requirement.

“In addition, we’re pleased the guidance unbundles conservation practices from the sustainable aviation fuel guidance, which would potentially enable more farmers to participate. Unfortunately, Treasury’s announcement comes at the eleventh hour and leaves uncertain whether and how the 45Z tax credit would ultimately be implemented to help America’s farmers assist fuel producers in the goal of increasing homegrown fuels.”

"U.S. Farm Bureau Federation's Statement on 45Z Clean Fuel Production Credit Guidance"

Farm Bureau appreciates the prioritization of America’s farmers over foreign importers in the proposed clean fuel production tax credit. We met with the Biden administration and advocated for this domestic feedstock requirement. In addition, we’re pleased the guidance unbundles conservation practices from the sustainable aviation fuel guidance, which would potentially enable more farmers to participate. Unfortunately, Treasury’s announcement comes at the eleventh hour and leaves uncertain whether and how the 45Z tax credit would ultimately be implemented to help America’s farmers assist fuel producers in the goal of increasing homegrown fuels.

Mike Tomko
Director, Communications
(202) 406-3642