Legislation introduced to address SAF concerns
Legislation has been introduced in the U.S. House and Senate that would extend a new sustainable aviation tax credit for biofuels for 10 years and prevent foreign producers from accessing the credits, including imports of foreign used cooking oil.
Sponsors include Ohio lawmakers Sen. Sherrod Brown, who is co-sponsoring the measure in the Senate, and Rep. Marcy Kaptur, who is co-sponsoring a companion bill in the House. The bill addresses the 45Z credit set to take effect in January and expiring at the end of 2027. The value of the credit is determined based on the carbon intensity of the fuel produced and is not currently limited to domestic feedstocks. The USDA currently expects 14 billion pounds of soybean oil to be used for biofuel production in 2024-2025.
“Thank you to Sen. Brown and Rep. Kaptur for leading the way on this issue, prioritizing Ohio farmers and reducing the U.S. biofuels industry’s dependence on foreign feedstocks,” said Rusty Goebel, OSA president and Williams County soybean farmer.… Continue reading