Farmer First Fuel: US-Sourced Clean Fuel Incentives
This act aims to support clean fuel production in the United States by ensuring tax credits are only granted for fuels made from US-sourced feedstocks. It also modifies how greenhouse gas emissions are calculated, excluding certain factors, and extends the clean fuel tax credit until 2034. Citizens may experience the impact through potential support for the local agricultural economy and stabilization of renewable fuel prices.
Key points
Tax credits for clean fuel will only apply to fuels produced from feedstocks grown or produced in the United States, supporting American farmers.
The method for calculating greenhouse gas emissions for clean fuel will be adjusted to exclude indirect land use change, potentially simplifying compliance.
The clean fuel production tax credit is extended by seven years, until the end of 2034, providing long-term support for the industry.
Status:
Introduced
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