To amend the Internal Revenue Code of 1986 to repeal the clean fuel production credit.
To amend the Internal Revenue Code of 1986 to repeal the clean fuel production credit.
Plain Language Summary
# HR 549 Summary **What the Bill Would Do** HR 549 would eliminate a federal tax credit for businesses that produce clean transportation fuels. Under current law, companies that produce certain clean fuels are eligible for a tax break starting in 2025 and running through 2027. This bill would cancel that tax credit before it ever takes effect. **Who It Affects** The bill primarily affects fuel production companies that were planning to benefit from the tax credit, as well as the clean fuel industry more broadly.
It could also indirectly impact consumers and energy markets, depending on how the credit's availability influences fuel production and pricing. **Current Status** The bill was introduced by Representative Beth Van Duyne (R-TX) in the 119th Congress and is currently in committee, meaning it has not yet been debated or voted on by the full House. No action has been taken on it so far.
CRS Official Summary
This bill repeals the business tax credit for clean fuel production beginning in 2025. (Under current law, the business tax credit for clean fuel production is available for the production and sale of qualified transportation fuel between 2025 and 2027.)
Latest Action
Referred to the House Committee on Ways and Means.