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The Biden administration released long-awaited guidance on Friday around tax credits for aviation fuel that reduces emissions of greenhouse gases compared with fuel made from crude oil.

The Treasury Department is spelling out the rules for tax credits designed to stimulate production of sustainable aviation fuel

The Biden administration released long-awaited guidance on Friday around tax credits for aviation fuel that reduces emissions of greenhouse gases compared with fuel made from crude oil. Midwest lawmakers and companies that produce corn-based ethanol praised the guidelines, although their enthusiasm could be short-lived. Congress approved the credits as part of President Joe Biden’s Inflation Reduction Act of 2022, which included provisions designed to boost cleaner energy.

Billions of dollars in new tax credits aim to cut jet emissions – but environmental groups and some scientists expressed reservations about the plan.

The Biden administration said on Friday it will recognize a methodology favored by the ethanol industry in guidance to companies looking to claim tax credits for sustainable aviation fuel (SAF), a pivotal win for the politically powerful U.S. corn lobby.

The Biden administration released long-awaited guidance on Friday around tax credits for aviation fuel that reduces emissions of greenhouse gases compared with fuel made from crude oil.

The Biden administration released long-awaited guidance on Friday around tax credits for aviation fuel that reduces emissions of greenhouse gases compared with fuel made from crude oil.

The Odessa American is the leading source of local news, information, entertainment and sports for the Permian Basin.

The Treasury Department is spelling out the rules for tax credits designed to stimulate production of sustainable aviation fuel.