A tax credit for the production of renewable fuels is extended until 2029 under the budget bill recently signed by President Trump.
Brian Werner of the Minnesota Biofuels Association sees that as a positive, and says producers in our state have become more energy efficient…
“And that a lot of the ethanol that we make in Minnesota currently has 40 to 50 percent less greenhouse emissions than gasoline. So this is a production credit that is going to be really beneficial to biofuels producers in Minnesota.”
The Clean Fuels Production Tax Credit was established by the Inflation Reduction Act and was scheduled to sunset in 2027.
