On July 5, the Biden Administration released its most recent agency rulemaking calendar, highlighting priorities among federal agencies over the next six months. The rulemaking calendar, officially called the Spring 2024 Unified Agenda of Regulatory and Deregulatory Actions, contains the statuses of 2,361 proposed and ongoing federal rules across all departments and agencies. However, the update fails to specify tentative release dates for multiple highly anticipated proposed and final rulemakings, including several related to new tax credits created in the Inflation Reduction Act of 2022.

Below, we have listed some of the notable rulemakings Taxpayers for Common Sense is engaged in:

Disclosure of Greenhouse Gas Emissions and Climate-Related Financial Risk  – Federal Acquisition Regulation Federal Acquisition Regulation

• The rule would require certain Federal contractors to publicly disclose their annual greenhouse gas emissions.
• A final rule is expected in December 2024 (the previous Unified Agenda had an anticipated release date of April 2024). The proposed rule was published on November 14, 2022.
• TCS submitted comments on the proposed rule, supporting the FAR’s efforts to o limit the liability taxpayers face because of climate change through curtailing sources of greenhouse gas (GHG) emissions: Comments in Support of the Federal Supplier Climate Risk and Resilience Rule

Advanced Manufacturing Investment Credit – Internal Revenue Service

• The rule would govern implementation of the 48D advanced manufacturing investment tax credit established in the CHIPS Act of 2022.
• There is no estimated date for when the final rule will be released. The proposed rule was published on March 23, 2023. Comments were due May 22, 2023.
• The rule would govern implementation of the 45V tax credit for clean hydrogen production established in the Inflation Reduction Act (IRA).
• There is no estimated date for when the final rule will be released. The proposed rule was published on December 26, 2023.
• TCS submitted comments on the proposed rule, calling on the IRS to ensure 45V supports hydrogen production that comes from zero GHG-emitting electricity and does not inadvertently subsidize high-carbon energy sources: TCS Comments on Clean Hydrogen Tax Credits

Advanced Manufacturing Production Credit  – Internal Revenue Service

• The rule would govern implementation of the 45X advanced manufacturing production tax credit established in the Inflation Reduction Act (IRA).
• There is no estimated date for when the final rule will be released. The proposed rule was published on December 15, 2023. Comments were due February 13, 2024.

Methane Emissions and Waste Reduction Incentive Program for Petroleum and Natural Gas Systems  – Environmental Protection Agency

• The rule would impose a fee for lost gas from oil and gas operations that emit more than 25,000 metric tons of carbon dioxide equivalent annually, pursuant to the Inflation Reduction Act (IRA).
• A final rule is expected in December 2024. The proposed rule was published on January 26, 2024.
• TCS submitted comments on the proposed rule, calling for fair and effective implementation of the Waste Emissions Charge. TCS urged the EPA to mandate detailed reporting and ensure public accessibility of this data, minimize flaring, and limit abuse of exemptions: TCS Comments on Waste Emissions Charge

Higher Blends Infrastructure Incentive Program – Department of Agriculture

• The rule would codify the program, initially implemented in 2020 and expanded in the Inflation Reduction Act (IRA), which provides competitive grants to transportation fueling facilities and fuel distribution facilities to increase the sale and use of higher blend biofuels – blends greater than 10% for ethanol and 5% for biodiesel – through infrastructure improvements.
• A proposed rule is expected in May 2025 (the previous Unified Agenda had an anticipated release date of June 2024).

Clean Electricity Investment and Production Credits – Internal Revenue Service

• The rule would govern implementation of the new 45Y clean electricity production credit and the 48E clean electricity investment credit established in the Inflation Reduction Act (IRA).
• There is no estimated date for when the final rule will be released. The proposed rule was published on June 3, 2024. Comments are due August 2, 2024.

Greenhouse Gas Technical Assistance Provider and Third-Party Verifier Program – Department of Agriculture

• The rule would govern implementation of a new program, signed into law in December 2022, that would facilitate farmers, ranchers, and private forest landowners participating in voluntary carbon markets.
• A proposed rule is expected in August 2024 and a final rule in December 2024. The request for information (RFI) was published on May 29, 2024. Comments on the RFI were due June 28, 2024.

Pipeline Safety: Safety of Carbon Dioxide and Hazardous Liquid Pipelines  – Department of Transportation

• The rule would govern the transportation of carbon dioxide by pipelines.
• A proposed rule is expected in November 2024.

Forest and Grassland Climate Resilience – Forest Service

• The advanced notice of proposed rulemaking asks for comments on how the U.S. Forest Service can adapt its policies to manage our national forests in the face of climate change.
• There is no estimated date for when the proposed rule will be released (the previous Unified Agenda had an anticipated release date of November 2024). The advanced notice of proposed rulemaking was published on April 21, 2023.
• TCS submitted comments on the advanced notice of proposed rulemaking, urging the agency to make sure the proposed rule conserves mature and old growth forests, creates climate resilience, protects communities, and decreases long-term liabilities associated with wildfire risks: Comments to U.S. Forest Service on Forest and Grassland Climate Resilience