To amend the Internal Revenue Code of 1986 to prohibit the use of foreign feedstocks for purposes of the clean fuel production credit, and for other purposes.
About This Bill
Committee
Latest Action · September 24, 2024
Read twice and referred to the Committee on Finance.
The Farmer First Fuel Incentives Act would modify the federal clean fuel production tax credit to require that fuels qualifying for the credit be made from feedstocks grown or produced in the United States, effectively blocking the use of foreign-sourced materials. The bill would extend the clean fuel production credit's expiration date from December 31, 2027 to December 31, 2034, providing an additional seven years of tax incentives for domestic clean fuel producers. These changes would primarily benefit American farmers and fuel producers by prioritizing domestic agricultural feedstocks for biofuel and renewable fuel production. The new domestic feedstock requirement would take effect for fuels sold after December 31, 2024, while the extended credit timeline would give the industry longer-term certainty and incentives. The legislation was introduced in September 2024 with bipartisan support from senators across several states.
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