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S 2262 United States Senate · 117th Congress

Low Carbon Biofuel Credit Act

Summary
Low Carbon Biofuel Credit 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 no more than 15 volume percent ethanol) and other fuels containing more than 15 volume percent ethanol.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit for biofuel blenders/retailers, reducing taxable income for specific businesses, aligning with tax relief measures under Budget & Taxes.95% confidence ✓ EnergySupports EnergyProvides tax credits for low-carbon biofuel blends (E15 ethanol), promoting renewable energy adoption and reducing fossil fuel dependence through financial incentives.95% confidence ✓ EnvironmentSupports EnvironmentPromotes low-carbon biofuels via tax credits, reducing transportation emissions and advancing clean energy adoption.90% confidence ✓ TransportationSupports TransportationPromotes sustainable transportation via tax credits for low-carbon biofuel blends (E15) in vehicle fuel, aligning with sustainable transportation indicators.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jun 2021
Committee Review
Floor Vote
President
Introduced Jun 24, 2021 Last action Jun 24, 2021
Floor votes

How they voted

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Jun 24, 2021
Committee
Read twice and referred to the Committee on Finance.
upper
Jun 24, 2021
Introduced
Introduced in Senate
upper
1 primary · 3 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Amy Klobuchar
Amy Klobuchar
DDemocratic
MN
n/a
Co
Photo of John Thune
John Thune
RRepublican
SD
n/a
Co
Photo of Tammy Baldwin
Tammy Baldwin
DDemocratic
WI
n/a
Co
Photo of Tina Smith
Tina Smith
DDemocratic
MN
n/a