Farmers Disappointed With Lack of Clarity Around 45Z

Jan 13, 2025

The Department of Treasury released more details today about a tax credit, known as 45Z, that is designed to help the biofuel industry make inroads into the aviation sector.

While today’s news included more information, corn grower leaders said they still need better clarity about the specific environmental practices that will be required for accessing the credit.

“This is disappointing news for growers,” said Iowa Corn Growers Association President Stu Swanson. “We have continually advocated for clear guidelines from Treasury officials, working to provide them with the necessary information they need to get this done. Unfortunately, it feels like our input has gone unrecognized and this issue will now be passed to the new administration.”  

The 45Z tax credit was part of the Inflation Reduction Act, which was signed into law in 2022. The law provides tax incentives to refineries that produce biofuels that can be used in commercial aircraft to lower greenhouse gas emissions.

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Video: Veteran Farmers: A Legacy of Service in Rural America

Veterans Day is a time to honor the men and women who have selflessly protected our freedoms and values. And for some, the transition from military service to civilian life brings them back to the farm.

At Farm Bureau, we believe it’s important to not only celebrate veterans but also those who continue to make a difference in agriculture and their community. We've partnered with Farm Credit to establish the Veteran Farmer Award of Excellence to shine a light on those who have continued to go above and beyond to serve their communities.

This year, we recognize retired Colonel Joe Ricker as the inaugural Veteran Farmer Award of Excellence winner. Joe served over 30 years in the Army before retiring from the Pentagon and completing tours in both Iraq and Afghanistan. Since leaving the Army, his commitment to excellence in farming and enriching the lives of veterans has blossomed in a myriad of ways in both his local community of Wilkinson, Indiana, and across the country. Joe grows apples and raises bees on his farm in Indiana. Joe founded “Veterans IN Farming,” an organization, now with more than 1,100 members, dedicated to providing veterans in Indiana with the tools and training to succeed in agriculture.

The American Farm Bureau Federation is an independent, non-governmental, voluntary organization, comprised of and directed by farm and ranch families who engage in all types of food, fuel and fiber production.