WASHINGTON, D.C.—Growth Energy, the nation’s largest biofuel trade association, urged the U.S. Treasury Department today to finalize its guidance for the 45Z Clean Fuel Production tax credit in a way that increases flexibility and maximizes the incentive’s impact.
In testimony delivered in a hearing by Growth Energy Senior Vice President of Regulatory Affairs Chris Bliley, the organization commended Treasury’s work so far, while calling on the department to make several other important changes to 45Z’s implementation so that the credit truly captures all the innovation happening in American biorefineries and on American farms.
“American energy dominance runs through our nation’s heartland. A strong, well-implemented 45Z credit can unleash lower-cost fuels, rebuild farm income, and open long-term market opportunities for American manufacturing,” said Bliley. “We applaud the Department and the Trump administration for working to advance this important rulemaking to chart a clear path for billions of dollars in new investments in U.S. energy leadership.”
Specifically, Growth Energy urged Treasury to work in conjunction with the U.S. Department of Agriculture (USDA) and the Department of Energy (DOE) to finalize its changes as quickly as possible; work with DOE to swiftly release targeted updates to the 45ZCF-GREET model and user manual; and allow greater flexibility and efficiency in the credit’s provisional emissions rate process, among other items.
“The President and the administration know that American farmers and ethanol producers are ready to put more American-made fuel into the marketplace, hold down energy costs, and secure American energy leadership,” Bliley added. “Your work to implement this credit and finalize this proposal are critical steps to making that vision a reality.”
The full testimony as prepared for delivery can be found here. Growth Energy also made previous comments on the 45Z Clean Fuel Production tax credit guidance proposal in April. Read them here.