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AFBF asks White House to prioritize U.S. crops for renewable fuel tax credits
The American Farm Bureau Federation says the Biden administration needs to establish a domestic feedstock requirement for clean fuel production credits.
Joe Gilson, director of government affairs, says the organization recently met with the administration about the Clean Fuel Production Credit and the Sustainable Aviation Fuel Credit.
“Farm Bureau believes these tax credits have a potential to be a game changer for farmers across the country. It would offer a valuable incentive for the production and use of biofuels in all different sectors.”
Last week, AFBF president Zippy Duvall was joined by leaders from the National Corn Growers Association and American Soybean Association in a meeting with John Podesta, Senior Advisor to the President for Clean Energy Innovation.
Gilson tells Brownfield the tax credits need some improvements and AFBF outlined its concerns with the White House.
“Right now we’re worried that imported product could be used for these tax credits. Foreign companies could import feedstocks that would displace corn and soybeans. We’re worried those tax credit benefits would flow to individuals outside of the U.S.”
He says the 45Z tax credit goes into effect January 1st, and AFBF asked the administration to move quickly in adopting workable regulations.
“If Treasury and the Biden administration decide to institute a cover crop requirement for 45Z, farmers would have to plant a cover crop this winter in order to participate in the tax credit.”
Gilson says these guideline revisions would make the goal of producing efficient biofuels more attainable.
INTERVIEW: AFBF director of government affairs Joe Gilson
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