Recently, U.S. Rep. Mike Carey, R-Ohio’s 15th District and a member of the House Fundraising Committee, and Rep. Mariannette Miller-Meeks, M.D., a Republican member of Iowa’s 1st District, co-sponsored a cross-party legislative proposal aimed at extending tax incentives for second-generation biofuels to further the development of the indigenous advanced biofuel industry. fuels to extend tax incentives for second-generation biofuels and further promote the development of a homegrown advanced biofuels industry.
The proposal seeks to extend the existing second-generation biofuel producer tax credit of up to $1.01 per gallon for qualifying fuels, such as corn fiber-based cellulosic ethanol. Since its inception, this tax incentive has been instrumental in driving investment in innovative fuel technologies and the scaled-up production of domestically produced advanced fuels.
Legislators say the continuation of this policy will further solidify U.S. technological advantage in the clean energy sector, while enhancing rural economic vitality and reducing dependence on fossil fuels. The bill, which is currently under consideration by the U.S. Congress and has the support of some Democratic lawmakers, is expected to become one of the focal points of the policy game in the coming months.
