Taxpayers for Common Sense, along with Environment America, Friends of the Earth, R Street Institute, and U.S. PIRG, submitted the following comments to the Department of the Treasury and the Internal Revenue Service (IRS) related to “Credits for Clean Hydrogen and Clean Fuel Production” (Notice 2022-58). The comments are focused on the implementation of new tax credits created in the Inflation Reduction Act (IRA), specifically the Clean Fuel Production Credit (Section 45Z). The tax credit has potential to bring back wasteful ethanol subsidies from the dead and extend subsidies for mature biofuels and biomass industries, depending on implementation.
The comments can be viewed below or downloaded here.
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Inflation Reduction Act: Treasury Comments on Clean Fuel Tax Credit
New clean fuel tax credit could continue wasteful subsidies for biofuels and biomass industries
Taxpayers for Common Sense, along with Environment America, Friends of the Earth, R Street Institute, and U.S. PIRG, submitted the following comments to the Department of the Treasury and the Internal Revenue Service (IRS) related to “Credits for Clean Hydrogen and Clean Fuel Production” (Notice 2022-58). The comments are focused on the implementation of new tax credits created in the Inflation Reduction Act (IRA), specifically the Clean Fuel Production Credit (Section 45Z). The tax credit has potential to bring back wasteful ethanol subsidies from the dead and extend subsidies for mature biofuels and biomass industries, depending on implementation.
The comments can be viewed below or downloaded here.
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