(NAFB.com) – Growth Energy welcomed the news that the proposal released on Monday from the House Ways and Means Committee included an extension of the 45Z clean fuel production credit. It’s an incentive designed to spur innovation in American biofuels and unlock billions in new investments across rural America. “Pro-growth tax policy can unlock billions of dollars in new investments towards U.S. energy dominance while supporting stronger markets for America’s farmers,” said Growth Energy CEO Emily Skor. “The 45Z tax credit is a critical piece of this puzzle, and we’re glad to see that lawmakers on the House Ways and Means Committee recognized its importance.” The 45Z clean fuel production tax credit is intended to incentivize the production of low-carbon fuels in transportation on the ground and the air. Growth Energy’s research demonstrates that the credit would add 21.2 billion dollars to the U.S. economy and support more than 192,000 jobs.
