Clean Fuels Alliance America applauded a bipartisan letter signed by 16 Senators and 36 Representatives and sent to the U.S. Treasury Department. The letter asks Treasury Secretary Janet Yellen to publish proposed rules for the 45Z Clean Fuel Production Credit and safe harbor guidance by September 1, 2024, and complete the final rulemaking no later than November 1, 2024.
“Lack of regulatory certainty is already putting thriving businesses at risk as fuel producers are unable to make important business decisions regarding their fuel,” the letter says. “Capital investment remains uncommitted, threatening certain projects and expansion plans, including the administration’s stated goals to support new markets like sustainable aviation fuel and low-carbon transportation fuels.”
Kurt Kovarik of Clean Fuels says biodiesel, renewable diesel, and sustainable aviation fuel producers are already producing almost five billion gallons of the advanced biofuels that could qualify for this credit. “They need policy certainty immediately,” he adds.
