Growth Energy Cheers Biofuel Boosters in Latest Senate Budget ProposalMon, 01 Aug 2022 13:08:22 CDT
Growth Energy welcomed the inclusion of key biofuel provisions in the new Senate budget reconciliation proposal. Among other measures, the draft bill would allocate $500 million to infrastructure investments designed to open new markets for higher biofuel blends. It also boosts or extends tax credits for Sustainable Aviation Fuels (SAF), carbon capture, advanced biofuels, and biodiesel and renewable diesel fuels.
“It’s very encouraging to see Senate negotiators continue to recognize key priorities we’ve pushed forward over the last year, including SAF, infrastructure, and other incentives aimed at maximizing the biofuel industry’s contributions to a low-carbon future,” said Growth Energy CEO Emily Skor. “For the U.S. to meet its climate goals, we must quickly expand the volume of low-carbon biofuels available across the entire transportation sector – on the ground, in the air, and at sea. These provisions can jump-start that climate progress, while delivering more savings at the pump, greater long-term energy security, and a welcome economic boon to rural communities.
“We know from experience that this process is far from done, and we continue to review other details of the proposal, but we look forward to continuing our work with champions in the House and Senate to ensure our priorities are reflected in any final package.”
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