ACE Provides Feedback to USDA and Treasury
This Spring, the American Coalition for Ethanol (ACE) provided feedback to both the U.S. Department of Agriculture (USDA) and the Treasury Department on efforts to reduce greenhouse gas (GHG) emissions from biofuel production and create new market opportunities for farmers and producers.
In March, ACE responded to USDA’s technical guidelines for biofuel feedstocks and its new Feedstock Carbon Intensity Calculator (FD-CIC), welcoming that they overall sufficiently inform farmers how individual conservation practices can reduce the carbon intensity (CI) of their crops.
“USDA’s guidelines are a significant step forward in acknowledging the critical role farmers play in reducing greenhouse gas emissions,” said Brian Jennings ACE CEO.
In April, ACE submitted comments to the U.S. Treasury and IRS on proposed rules for the 45Z Clean Fuel Production Credit. The organization emphasized how the 45Z credit can be leveraged to unlock new markets for farmers and biofuel producers, supporting certainty and economic growth, at a time when they have a lot of money on the line.
“The 45Z credit not only promotes U.S. energy security … but can also create good-paying jobs and unlock new markets for farmers and domestic biofuel producers,” Jennings said.
Even though by statute the 45Z tax credit was to go into effect on Jan. 1, 2025, the Trump Treasury Department will decide how and when to fully implement it.