Clean Fuel Tax Credits Restricted to US-Grown Feedstocks; Program Extended
This Act aims to support American farmers and fuel producers by ensuring that tax credits for clean fuel production are only granted if the feedstocks (like biomass) were produced or grown within the United States. This change directs tax relief funds exclusively toward domestic agricultural and energy production. Furthermore, the clean fuel production tax credit program is extended until the end of 2034, providing long-term stability for investments in domestic, environmentally friendly energy sources.
Key points
Tax Credit Restriction: The clean fuel production tax credit will only apply to fuels derived from feedstocks that were produced or grown in the United States (prohibiting foreign feedstocks).
Farmer Support: The change is intended to directly support American farmers and the domestic agricultural sector by increasing demand for their products used in biofuel production.
Program Extension: The Clean Fuel Production Credit program is extended by seven years, until December 31, 2034.
Expired
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