The House Ways & Means Committee passed the “One, Big, Beautiful Bill” Wednesday morning following an all-night hearing and “delivering on President Trump’s policies of tax relief for American workers, families, farmers, and small businesses.”
Among its many provisions are proposed changes and an extension to the Clean Fuel Production Credit (45Z), of the Inflation Reduction Act. The provision requires the credit is only available to fuel produced from feedstocks produced or grown in the U.S. and extends the credit by three years through December 31, 2031.
Renewable Fuels Association President and CEO Geoff Cooper said they are encouraged by the provisions. “These tax policies can help support expanded production of American energy, accelerate technology innovation, and boost rural economies by creating manufacturing jobs and opening new markets for America’s farmers.”