House amendment preserves renewable fuel tax credits

NAFB News Service

Clean Fuels Alliance welcomed an amendment to House legislation that would raise the nation’s debt limit and make substantial changes to clean energy tax credits.

The amendment would preserve the biodiesel and renewable diesel blenders’ credits as they are written in current law.

“The clean fuels industry thanks all the House members who sought to preserve predictability and stability in tax policy,” Kurt Kovarik, Vice President of Federal Affairs with Clean Fuels, said.

Midwestern House Republicans were also concerned about the bill’s elimination of ethanol tax credits.

A manager’s amendment eliminated those provisions that would have eliminated tax credits for biofuels that were part of the Inflation Reduction Act.

The amendment added a grandfather clause in a section that eliminates sustainable aviation fuel and alternative fuel tax credits for those engaged in activities who would have received a credit after the Inflation Reduction Act passed and before it was introduced.

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