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.
Comments
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.
Share This Story!
Related Posts
Wyoming Lease Sales Will Cost Taxpayers $22 Million in Lost Royalty Revenues
Washington’s Pop Comes With a Price
Hill added $100 billion-plus since 2022 on unrequested weapons
The Rising Cost of Backdoor Earmarks in the Pentagon Budget
Administration to Repeal Recently Updated Oil and Gas Bonding Requirements
Tens of thousands of acres of BLM land in Colorado to be put up for oil and gas leasing, but operators will pay less
Most Read
Recent Content
Our Take
Washington’s Pop Comes With a Price
In The News
Hill added $100 billion-plus since 2022 on unrequested weapons
Analysis
The Rising Cost of Backdoor Earmarks in the Pentagon Budget
Our Take
Administration to Repeal Recently Updated Oil and Gas Bonding Requirements
Stay up to date on our work.
Sign up for our newsletter.
"*" indicates required fields