A letter signed by over 20 agricultural and biofuel groups was sent to officials at the Agriculture, Treasury, and Energy Departments, and the White House, asking for reasonable guidelines to allow farmers to benefit from the 45Z tax credit. The credit is intended to facilitate the sale of ethanol and other biofuels in the aviation sector. “Farmers are facing structural economic issues where projected costs exceed expected revenues,” the letter said. “Biofuels are a critical market for U.S. farmers, and tax incentives like the 45Z tax credit are essential policy instruments to secure long-term demand for liquid fuels made from American-grown feedstock.” The letter also said stable, long-term market incentives will help farmers outpace their global competitors, and allow them to make capital, input, and management decisions that shape the next several growing seasons. “Clear 45Z guidance is critical for farmers and their lenders to plan ahead with confidence,” the groups said.
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