Guidelines around a new tax credit for sustainable aviation fuel is issued by Treasury Department
The Treasury Department is spelling out the rules for tax credits designed to stimulate production of sustainable aviation fuel
By Associated Press
Published - Dec 15, 2023, 11:40 AM ET
Last Updated - Dec 21, 2023, 11:51 AM EST
Long-awaited guidance around tax credits for aviation fuel that reduces emissions of greenhouse gases compared with conventional fuel was issued Friday by the Treasury Department.
Environmentalists said they were concerned that the guidelines could pave the way for credits for fuel made from corn, sugar cane and other crops, which they consider unsustainable sources.
Producers of sustainable aviation fuel will be eligible for tax credits ranging from $1.25 to $1.75 per gallon.
