Asserting that U.S. tax policy should be tied to the best standards the government has, 17 of the nation’s top corn grower leaders sent a letter to Treasury Secretary Janet Yellen.
It encourages her to adopt an emissions model developed by the Energy Department as her agency works with the IRS to determine which biofuels lower greenhouse gas emissions enough to qualify for sustainable aviation fuel tax credits under the Inflation Reduction Act. The letter comes as corn ethanol has been used for years in cars and trucks while saving consumers money on fuel.
Ethanol is being considered for use in the aviation arena, where experts say the biofuel would do for airplanes what it has done for autos. Corn grower leaders point out that the tax credit from the IRA will be crucial to ensuring ethanol is quickly made available in the aviation sector. A decision will get made this month.