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Skor discusses future of 45Z tax credit

The CEO of Growth Energy says clean fuel production tax credits have an uncertain future.

Emily Skor says President-elect Trump hasn’t been vocal about the 45Z tax credit. “We do know that Mr. Trump campaigned and won on repealing or modifying the Inflation Reduction Act. These tax credits are part of the Inflation Reduction Act, so we know that was the campaign conversation.”

But she says there is some optimism within the industry. “These investments are in primarily red GOP districts and states. We have a core group of Republican champions that understand, ‘I may not support the entirety of this IRA, but these biofuel tax credits they make sense for the rural economy.’”

Skor says the 45Z tax credit is a three-year credit that’s set to begin January 1^st. “We need clarity from the Department of Treasury that says ‘here’s how this tax credit is going to work operationally’ so that we can start really working with the growers and figuring out what are the farming practices that make sense and what’s the value going to be.”

She spoke to Brownfield at the recent Iowa Farm Bureau convention in Des Moines.

VIDEO INTERVIEW: Growth Energy CEO Emily Skor