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At issue is a $1.25/gallon production tax credit embedded in the 2022 Inflation Reduction Act reserved for SAF that demonstrates a 50% reduction in lifecycle greenhouse gas emissions compared to ...
To tackle this challenge, the 2022 Inflation Reduction Act included two tax credits for SAF production — the 40B and 45Z credits— which have spurred excitement and initial investment in the ...
The Biden administration is expected this week to recognize a soon-to-be-updated methodology favored by the ethanol industry in guidance to companies looking to claim tax credits for sustainable ...
The program provides $244.5 million in grants for SAF-related "production, transportation, blending, and storage." [44] In November, 2022, sustainable aviation fuels were a topic at COP26. [45] As of 2023, 90% of biofuel was made from oilseed and sugarcane which are grown for this purpose only. [46]
Currently the standard credit for a qualified alternative fuel vehicle is $4,000. Other than the Civic GX, a number of models produced after 2004 may qualify for tax credits. [13] Electric vehicles: Government tax credit programs are planned for electric and plug-in hybrid vehicles, but no specific models have yet been certified. [14]
U.S. Senators Jay Rockefeller (D-West Virginia) and Roy Blunt (R-Missouri) introduced S.B. 1133, "New Markets Tax Credit Extension Act of 2013" in June 2013 to permanently add New Market Tax Credits to the Internal Revenue Code, however the program expired in January 2014 without the bill passing. [14] [15] The program does continue.
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