Contact: Dan Hubbard, 202-783-9360, firstname.lastname@example.org
Washington, DC, May 20, 2021 – The National Business Aviation Association (NBAA) today welcomed the introduction of the Sustainable Skies Act, which creates a performance-based blender’s tax credit to incentivize the production and use of sustainable aviation fuel (SAF), an alternative to conventional jet fuel that will ensure real reductions in the aviation sector’s global greenhouse gas (GHG) emissions.
Specifically, the bill would establish a long-term blender’s tax credit ranging from $1.50/gallon up to $2.00/gallon for fuels that achieve a 100% GHG emissions reduction.
“This important legislation is key toward the business aviation community’s aggressive work to meet its sustainability objectives,” said NBAA President and CEO Ed Bolen. “We applaud the leadership shown by Reps. Brad Schneider (D-10-IL), Dan Kildee (D-5-MI) and Julia Brownley (D-26-CA) in introducing this bill, which supports and strengthens a nascent industry that is critical to reducing aviation emissions.”
SAF is a low-carbon synthetic jet fuel derived from sustainable feedstocks, including cellulosic biomass, wastes and residues, waste steel mill gases and captured CO2, which can be used safely in any turbine-powered aircraft. SAF potentially can reduce lifecycle GHG by up to 80% compared to conventional jet fuel and is considered pivotal to achieving the aviation industry’s goal of a 50% net reduction in CO2 emissions in 2050.
Despite its benefits, the scalability of SAF is currently difficult, and considerably more expensive, than conventional jet fuel. Through a dedicated federal tax credit, similar to those applied to other renewable fuels early in their development, the production of SAF can be accelerated, and the fuel can become commercially viable.
“NBAA members are committed to a safe, secure and sustainable future for business aviation, and SAF is critically important to that vision,” Bolen said. “The dedicated blender’s tax credit will be a game-changer, and NBAA will leverage our advocacy resources to support the bill.”
# # #
Founded in 1947 and based in Washington, DC, the National Business Aviation Association (NBAA) is the leading organization for companies that rely on general aviation aircraft to help make their businesses more efficient, productive and successful. The association represents more than 11,000 company and professional members and provides more than 100 products and services to the business aviation community, including the NBAA Business Aviation Convention & Exhibition (NBAA-BACE), the world’s largest civil aviation trade show. Learn more about NBAA at nbaa.org.
Members of the media may receive NBAA Press Releases immediately via email. To subscribe to the NBAA Press Release email list, submit the online form.