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
Disasters Compel the Nation to Improve
Energy Tax Provisions in the One Big Beautiful Bill
OBBBA Extends Domestic Business Tax Subsidies
Déjà vu: Mega Tax Bill Counts on False Revenue Promises of New Oil & Gas Lease Sales in Arctic Refuge
Taxpayers Lose on Oil and Gas Leasing in Trump’s Budget Bill
OPINION: Idaho’s senior senator offers ‘high hopes’ about the deficit
Most Read
Recent Content
Our Take
Energy Tax Provisions in the One Big Beautiful Bill
Our Take
OBBBA Extends Domestic Business Tax Subsidies
Our Take
Déjà vu: Mega Tax Bill Counts on False Revenue Promises of New Oil & Gas Lease Sales in Arctic Refuge
Our Take
Taxpayers Lose on Oil and Gas Leasing in Trump’s Budget Bill
Stay up to date on our work.
Sign up for our newsletter.
"*" indicates required fields