The U.S. Senate Committee on Finance convened on September 10, 2025, to discuss the nominations of Jonathan Greenstein for Deputy Under Secretary of the Treasury and Donald Korb for Chief Counsel of the IRS and Assistant General Counsel of the Treasury. A significant focus of the meeting was the clean fuels production credit, which has undergone modifications set to take effect at the beginning of next year.

Senator Chuck Grassley raised concerns about the timeline for implementing these changes, emphasizing the urgency for the biofuels industry and particularly for farmers who rely on this credit. He pointed out that the Office of Management and Budget's regulatory agenda indicates that guidance on these changes may not be available until May 2026, which he deemed unacceptable. Grassley pressed Korb for a clearer timeline on when stakeholders could expect guidance, highlighting the uncertainty currently faced by the biofuels sector regarding the credit's value and availability for the current tax year.

Korb acknowledged the importance of timely guidance and committed to working closely with the Office of Tax Policy and the Treasury Department to ensure that necessary information is provided promptly. This commitment is crucial as the industry navigates the complexities of the credit, which has been in effect since the start of this year but lacks formal guidance from the Biden administration.

The meeting also included remarks from Senator Maggie Hassan, who congratulated both nominees on their appointments and expressed appreciation for their willingness to serve. The discussions underscored the critical role that effective tax policy plays in supporting the biofuels industry and the broader implications for farmers and stakeholders involved in clean fuel production.

As the Senate moves forward with these nominations, the commitment to providing timely guidance on the clean fuels production credit will be closely watched by industry participants eager for clarity and support in the coming year.