****UPDATE: Guidance was released on Friday afternoon by the Biden administration. Check out our update story for more coverage on this story. https://americanagnetwork.com/2025/01/industry-disappointment-with-lack-of-45z-clean-fuel-tax-credit-clarity/
(WASHINGTON D.C.) — Long awaited clean fuel tax credit guidance is reportedly set to be released on Friday by the Biden Administration. However, it is expected to be “short-term guidance” according to a report from Reuters.
According to sources, the long awaited guidance related to 45Z clean fuel tax credits for sustainable aviation fuel and other biofuels will only be short-term and the Biden administration will leave final decision to the incoming Trump administration. That casts uncertainty on the program as the President-elect has vowed to repeal the 2022 Inflation Reduction Act that launched the clean fuels tax credit program.
Biofuels companies and agriculture groups have been waiting for guidance on 45Z from the U.S. Treasury for months, with the details originally supposed to be released before January 1st, 2025. Conflicting reports in December provided mixed signals on whether the Biden administration would finalize the guidelines before President Biden leaves office on January 20th.
Stay tuned for more details on this developing story and find more from Reuters here: https://www.reuters.com/sustainability/biden-administration-release-short-term-guidance-clean-fuel-tax-credit-sources-2025-01-09/
