News

Coalition of Senators urge Treasury to place restrictions on Biofuels Tax Credit

Sixteen U.S. Senators have signed a bipartisan letter urging the U.S. Treasury to restrict 45Z tax credits to biofuels that only use domestically sourced feedstocks.

In a release Wednesday, Senator Roger Marshall of Kansas said the tax credit, as currently written, incentivizes foreign used cooking oil over homegrown soybean and corn oil and fails to provide a verification method on potential fraudulent imports.

The coalition of Senators is urging clarification before Jan. 1, when the tax credit becomes effective.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!