Growth Energy Statement on 45Z Guidance

WASHINGTON, D.C.-Growth Energy-the nation's largest biofuel trade association-issued the following statement after the U.S. Treasury released its long-awaited 45Z guidance (the Clean Fuel Production Credit).

"This long-overdue guidance is far from complete-it still lacks the critical details that are needed to help ensure that American biofuel producers and their farm partners can lead the world in clean fuel production," said Growth Energy CEO Emily Skor. "While we appreciate the work of Secretary Vilsack to champion our issues on behalf of rural America, today's announcement falls short of providing the information that our industry and its farm partners need, including a model for an expanded number of eligible decarbonization technologies and guidance on climate smart agriculture (CSA) practices.

"We look forward to working with the next Administration to fill in the gaps left by today's announcement and to ensure this economic opportunity for the struggling farm economy is not left on the table. Demand for low carbon energy will continue to grow with or without us, and we need strong policy support in order to unleash the kind of investments that will position the U.S. for leadership in this market. Today's guidance does not satisfy that need."

Learn more about the importance of 45Z guidance and other tax incentives here.