Repeal of Clean Fuel Tax Credit

Official: To amend the Internal Revenue Code of 1986 to repeal the clean fuel production credit.

IntroducedJanuary 16, 2025

Why This Matters

This bill removes a tax credit that supports the production of clean fuel, which could impact the clean energy industry and its growth.

If you work in the clean fuel industry, your company may lose financial support starting in 2025.

Affects: Companies involved in producing clean fuels would be directly affected by this change.

Summary

This bill repeals the business tax credit for clean fuel production beginning in 2025. (Under current law, the business tax credit for clean fuel production is available for the production and sale of qualified transportation fuel between 2025 and 2027.)

What changes is this bill making?

1. This bill would remove the clean fuel production tax credit from the tax code. 2. It would stop providing financial benefits to companies producing clean fuel. 3. The change would take effect for tax years starting after December 31, 2024. 4. This bill aims to eliminate incentives for clean fuel production.

Who is affected?

Companies involved in producing clean fuels would be directly affected by this change.