Legislation introduced in the House and Senate would extend a new sustainable aviation fuel tax credit for biofuels for ten years and prevent foreign producers from accessing the credits. Groups like the National Corn Growers Association applauded the legislation that supports domestic producers. “Corn growers are making every effort to help the airline industry lower its greenhouse gas emissions through the use of corn ethanol,” says NCGA President Harold Wolle.
The 45Z tax credit provides incentives to refineries that produce biofuels that can be used in commercial aircraft. The National Oilseed Processors Association and the American Soybean Association also hailed the legislation. “NOPA commends this bipartisan, bicameral legislative effort that puts U.S. fuel producers, crushers, and farmers first,” says NOPA President Kailee Buller. “While we support free trade and open markets, we don’t believe foreign feedstocks should benefit on the backs of U.S. taxpayers and to the detriment of U.S. farmers.”
- NAFB