Clean Fuels Alliance America says the Inflation Reduction Act, passed by the US Senate this week, provides needed support for the biofuels industry.
Kurt Kovarik, Vice President of Federal Affairs with Clean Fuels, says the legislation extends the existing biodiesel and renewable diesel tax incentive through 2024. “It was scheduled to expire at the end of this year,” he said. “Extending it out for two years as a straight extension, and then three years as a Clean Fuel Production Credit, provides that certainty for our industry.”
Kovarik says the bill also funds new biofuel infrastructure and agriculture product market expansion through 2031.