Keep 45Z Working for Midwestern Farmers and Rural Communities
Treasury got it right. Finalizing 45Z's electricity rules as proposed protects the rural power grid and keeps investment in the communities that earned it.
FILL OUT THE FORM to join our effort to keep 45Z investment local. Treasury must finalize the 45Z electricity rules as written, protecting the rural power grid and keeping investment in the Midwest communities that earned it. A small minority of out-of-region and foreign-owned companies are pressuring Treasury to strip away these guardrails. Add your voice to the farmers and rural businesses fighting to keep that from happening.
For A 45z primer, click here to watch our 90-second video.
Importance of keeping our tax credits in the Midwest
45Z could create $6+ billion in annual value for the biofuels industry, and almost 90% of biofuel production occurs in the Midwest.
45Z electricity contracts alone could create almost $2 billion in annual value for the biofuels industry, representing huge investment potential for the Midwest power grid.
Private 45Z capital from fuel producers puts more money into farmers’ pockets. That income circulates and multiplies locally, supporting feed and seed suppliers, grain elevators, farm equipment dealers, mainstreet businesses, local schools, and public works.
Private 45Z capital from fuel producers reinvests in the Midwest power grid at a time when new investment is sorely needed, expanding diversified job creation for Midwesterners: linemen, skilled trades, construction, and other essential workers.
Crops like corn, soybeans, and sorghum are grown and sold to Midwest biofuels producers who sell transportation fuels on to American industry, logistics companies, and working families.
To claim the tax credit, biofuel producers earn and can also buy electricity and energy data - called EACs - from Midwest power generators like rural electric co-ops and individual farmers. Biofuel producers use their crop and EAC data to claim the 45Z tax credit.
Private 45Z capital from fuel producers puts more money into farmers’ pockets, circulating and multiplying locally, and reinvests in the Midwest power grid at a time when new investment is sorely needed and creates more skilled jobs for Midwesterners.
