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Bill aims to create tax credit to support biomass carbon removal and storage

Sen. Sheldon Whitehouse, D-R.I.

June 3, 2025

BY Erin Krueger

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California Senate subcommittee hears testimony on proposed SAF tax credit

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By Erin Krueger

10 hours ago

Sustainable Aviation Fuels Markets Policy 

The California Senate Budget and Fiscal Review Committee’s Subcommittee 2 on Resources, Environmental Protection and Energy on April 9 heard testimony focused on California. Gov. Gavin Newsom’s proposed SAF tax credit.

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The USDA is formally rescinding a notice of funding opportunity issued in October 2024 for FY 2025, 2026 and 2027 Rural Energy for America Program funding. Any applicant without a fully executed financial assistance agreement will have to reapply.

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A new independent study commissioned by NATSO, SIGMA and NACS finds that the 40A Biodiesel Blenders' Tax Credit delivers significantly more value across the biofuel supply chain than its replacement, the 45Z Clean Fuel Production Credit.

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Reps. Michelle Fischbach, R-Minn., and Nikki Budzinski, D-Ill., on March 27 introduced the Biobased Materials Investment and Production Act, which aims to create tax incentives to support the production of biobased chemicals and materials.

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On April 7, U.S. Department of Agriculture Rural Development Montana State Director Bill Warden announced the agency is investing in the future of Montana’s biofuel industry through Beaverhead Tourism Council in Dillon, Montana.

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