Guidelines for a tax credit that was meant to be the engine behind President Joe Biden’s ambitious plan to generate 3B gallons in production of sustainable aviation fuels by 2030 will not be finalized before Biden administration officials leave in January, three sources told Reuters. The clean fuel production tax credits aimed at the airline and biofuel industries were due to become effective Jan. 1, but a lack of detailed guidance from the U.S. Treasury would render the program dormant, Reuters said. Companies that may be impacted by this news include Bunge (BG), Archer Daniels (ADM), Darling Ingredients (DAR) and Gevo (GEVO).
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Read More on BG:
- Bunge expands share repurchase program by $500M
- Bunge Limited Reports Q3 2024 Results and Strategic Moves
- Bunge reports Q3 adjusted EPS $2.29, consensus $2.15
- Bunge sees FY24 adjusted EPS ‘at least’ $9.25 vs. prior view ~$9.25
- BG Upcoming Earnings Report: What to Expect?
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