Biden administration details how producers of sustainable aviation fuel will get tax credits

  • 📰 AP
  • ⏱ Reading Time:
  • 22 sec. here
  • 15 min. at publisher
  • 📊 Quality Score:
  • News: 57%
  • Publisher: 51%

Joe Biden News

General News,Domestic News,F

The Biden administration is out with new guidelines for tax credits for producers of sustainable aviation fuel. The announcement Tuesday is getting praised by the ethanol industry, but some environmentalists are disappointed. The tax credits are designed to boost production of cleaner fuel that could reduce emissions from planes.

The Biden administration spelled out guidelines Tuesday for tax breaks designed to boost production of sustainable aviation fuel and help curb fast-growing emissions from commercial airplanes.

The announcement was praised by the ethanol industry but got a much cooler reaction from environmentalists. Administration officials said commercial aviation — that is mostly passenger and cargo airlines — accounts for 10% of all fuel consumed by transportation and 2% of U.S. carbon emissions. Skeptics worry that a large share of the tax credits will go to ethanol and other biofuels instead of emerging cleaner fuels.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in BUSİNESS

Business Business Latest News, Business Business Headlines