Fiscal Cliff Articles

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House Bill Would Eliminate Energy Tax Credits

January 21, 2013

House Bill Would Eliminate Energy Tax Credits

U.S. Rep. Mike Pompeo (R-Kan.) has reintroduced legislation that would repeal numerous energy tax subsidies, including the cellulosic biofuel producer credit, the biodiesel and renewable diesel tax credit, the wind production tax credit and the enhanced oil recovery credit.

Freight Expected to Grow Slowly in 2013

January 7, 2013

Freight Expected to Grow Slowly in 2013

ATA Chief Economist Bob Costello said he expects truck tonnage to grow at a slower pace in 2013 than it did in 2012, adding that a stronger economic recovery could boost the industry in 2014 and 2015. Costello, who is a featured speaker at The NATSO Show, predicted a two percent increase in for-hire truck tonnage this year, slowing from the 2.7 percent increase he projected for 2012. Costello said tonnage growth had been slowing throughout 2012. Tonnage in October dropped 3.8 percent and marked the first year-over-year decrease since November 2009. In November, however, tonnage increased 3.7 percent, marking the first gain since July.

"Fiscal Cliff" Legislation Includes Biodiesel Tax Credit

January 2, 2013

"Fiscal Cliff" Legislation Includes Biodiesel Tax Credit

The House and Senate passed legislation Tuesday designed to avert the so-called fiscal cliff, a combination of tax increases for individuals and cuts to government spending. The legislation overwhelmingly passed the Senate, 89-8, and passed the House 257-167, with 85 Republicans voting in favor of the legislation. The legislation includes extensions of some energy tax credits that are important to NATSO members.