Taxpayers for Common Sense submitted the following comments to the Department of the Treasury and the Internal Revenue Service (IRS) related to the “Sustainable Aviation Fuel Credit” created in the Inflation Reduction Act of 2022. The comments are focused on implementation of the new tax credit which could cost taxpayers billions of dollars in the future. TCS urged Treasury/IRS to ensure that high-carbon, first generation biofuel feedstocks such as corn, soybean oil, and woody biomass do not become eligible for federal tax credits at the expense of consumers, taxpayers, the climate, and environment.
The comments can be viewed below or downloaded here.
Comments
Inflation Reduction Act: Treasury Comments on Sustainable Aviation Fuel Credit
Ensuring high carbon biofuels are not furthered subsidized by taxpayers should be a priority
Taxpayers for Common Sense submitted the following comments to the Department of the Treasury and the Internal Revenue Service (IRS) related to the “Sustainable Aviation Fuel Credit” created in the Inflation Reduction Act of 2022. The comments are focused on implementation of the new tax credit which could cost taxpayers billions of dollars in the future. TCS urged Treasury/IRS to ensure that high-carbon, first generation biofuel feedstocks such as corn, soybean oil, and woody biomass do not become eligible for federal tax credits at the expense of consumers, taxpayers, the climate, and environment.
The comments can be viewed below or downloaded here.
Share This Story!
Related Posts
Turning Up the Heat
From Crisis to Resilience: Revamping the National Flood Insurance Program
Protecting Taxpayers from Picking Up the Tab for Oil and Gas Well Cleanup
8,500 Acres Leased for Oil & Gas Development in Wyoming
No Bids in Nevada: No Interest in Recent Federal Oil and Gas Lease Sale
Federal Onshore Oil and Gas Lease Sale in Kansas and New Mexico
Most Read
Who Paid for Fireworks?: Budget Group Wants to Know Who Picked Up Tab
Sep 6, 2001 |2 min readU.S. Contributions to NATO Budgets
Mar 18, 2022 |7 min readWhy Can't the Pentagon Pass An Audit?
May 18, 2000 |3 min readGet Social
Recent Content
Our Take
Lessons Unlearned: FEMA’s Inaccurate COVID-19 Obligation Estimates
Our Take
From Crisis to Resilience: Revamping the National Flood Insurance Program
Our Take
Plugging the Leak: Persistent Issues with Improper Payments
Our Take
High for Longer: The Fed’s Battle Against Inflation and Its Impact on Federal Debt
Stay up to date on our work.
Sign up for our newsletter.
"*" indicates required fields