Taxpayers for Common Sense, along with Environment America, Friends of the Earth, R Street Institute, and U.S. PIRG, submitted the following comments to the Department of the Treasury and the Internal Revenue Service (IRS) related to “Credits for Clean Hydrogen and Clean Fuel Production” (Notice 2022-58). The comments are focused on the implementation of new tax credits created in the Inflation Reduction Act (IRA), specifically the Clean Fuel Production Credit (Section 45Z). The tax credit has potential to bring back wasteful ethanol subsidies from the dead and extend subsidies for mature biofuels and biomass industries, depending on implementation.
The comments can be viewed below or downloaded here.
Comments
Inflation Reduction Act: Treasury Comments on Clean Fuel Tax Credit
New clean fuel tax credit could continue wasteful subsidies for biofuels and biomass industries
Taxpayers for Common Sense, along with Environment America, Friends of the Earth, R Street Institute, and U.S. PIRG, submitted the following comments to the Department of the Treasury and the Internal Revenue Service (IRS) related to “Credits for Clean Hydrogen and Clean Fuel Production” (Notice 2022-58). The comments are focused on the implementation of new tax credits created in the Inflation Reduction Act (IRA), specifically the Clean Fuel Production Credit (Section 45Z). The tax credit has potential to bring back wasteful ethanol subsidies from the dead and extend subsidies for mature biofuels and biomass industries, depending on implementation.
The comments can be viewed below or downloaded here.
Share This Story!
Related Posts
Possible Spending in a November Emergency Supplemental
GAO: Improper Payments and Fraud Remain Significant Issues for Federal Agencies
Clearing the Smoke on Wildfire Spending: Database Edition
Carbon Fungibility: The Oil and Gas Industry Calls on IRS to Codify Loophole in Upcoming CCS Tax Credit Rule
Leaking Confidence: ADM’s Leaks Spotlight Risks of Carbon Capture and Storage
Taxpayers for Common Sense Unveils Comprehensive Database on Federal Wildfire Spending
Most Read
Leaking Confidence: ADM’s Leaks Spotlight Risks of Carbon Capture and Storage
Oct 23, 2024 |5 min readWhy Can't the Pentagon Pass An Audit?
May 18, 2000 |3 min readPresidential Authority to Close the Border
Apr 18, 2024 |7 min readGet Social
Recent Content
Weekly Wastebasket
Phantom Farm Bills
In the News
Politico Pro – Morning Defense October 31, 2024
Press Release
New TCS Report Details Military Industry’s Political Influence
Report
Political Footprint of the Military Industry
Stay up to date on our work.
Sign up for our newsletter.
"*" indicates required fields