Summary of Bill HR 4254
Bill 117 HR 4254, also known as the Low Carbon Biofuel Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to promote the production and use of low carbon biofuels as a way to reduce greenhouse gas emissions and combat climate change.
The bill includes provisions that would establish a Low Carbon Biofuel Program within the Environmental Protection Agency (EPA). This program would set standards for the carbon intensity of biofuels, with the goal of incentivizing the production of biofuels that have lower carbon emissions than traditional fossil fuels.
Additionally, the bill includes measures to support research and development of new biofuel technologies, as well as funding for infrastructure improvements to support the distribution and use of low carbon biofuels.
Supporters of the bill argue that promoting the use of low carbon biofuels is a crucial step in reducing the United States' reliance on fossil fuels and transitioning to a more sustainable energy system. They believe that this legislation will help to create jobs in the biofuel industry, reduce air pollution, and mitigate the impacts of climate change.
Opponents of the bill may argue that the government should not be involved in promoting specific industries or technologies, and that market forces should determine the most efficient and cost-effective solutions to reducing carbon emissions.
Overall, the Low Carbon Biofuel Act represents an important effort to address climate change and promote the use of renewable energy sources in the United States. It will be interesting to see how this legislation progresses through Congress and what impact it may have on the biofuel industry and the environment.
Congressional Summary of HR 4254
Low Carbon Biofuel Act
This bill allows certain taxpayers (defined by this bill as an oxygenate blender and a retailer) a new business-related income tax credit for the sale or blending of E15 gasoline (more than 13 and not more than 15 volume percent ethanol) and other fuels containing more than 15 volume percent ethanol.