Build Back Better is Big for Biofuel

Build Back Better is Big for Biofuel

 

Build Back Better Bill Provides Big Wins for Biofuel Producers

Biodiesel and renewable diesel producers will see an extension of the income and excise tax credits for biodiesel and biodiesel mixtures at $1.00 per gallon through 2031. This will easily be the longest period of time in which producers will be able to count on the credit being in place.

The provision also extends the $0.10-per-gallon small agri-biodiesel producer credit through the end of 2031, as well as the $0.50 per gallon excise tax credits for alternative fuels and alternative fuel mixtures.

What might be the biggest news announced for liquid renewable fuels is the sustainable aviation fuel credit.  Beginning in 2023, the provision allows for a refundable blenders tax credit for each gallon of sustainable aviation fuel sold as part of a qualified fuel mixture.  The credits value is determined on a sliding scale, equal to $1.25 per gallon plus an additional $0.01 for…

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