American Trucking Associations (ATA) President and CEO Bill Graves recently urged Members of Congress to keep the biodiesel tax credit at the blender level, saying that the incentive has been proven to lead to lower diesel prices at the pump. In a letter distributed to Members of Congress, Graves makes clear that converting the blenders credit to a producers credit is bad policy for consumers.
11-16-2015 In the coming weeks, policymakers on Capitol Hill and in the Obama Administration have important decisions to make regarding the future of biodiesel in the United States. As Congress considers whether to extend the biodiesel tax credit and who in the supply chain should be able to claim that credit (blenders or producers), officials at the Environmental Protection Agency (EPA) are expected to release by Nov. 30 annual biodiesel volume obligations for 2014-2017 under the Renewable Fuel Standard.
11-06-2015 NATSO joined five petroleum and biofuel trade groups in urging the House Ways and Means Committee to extend the biodiesel and renewable diesel tax credit in its traditional form as a blender credit, rather than converting it to a producers credit.
10-26-2015 The IRS said taxpayers claiming biodiesel mixture and alternative fuel credits against 2014 tax liability should treat the credits as though they had never expired, Bloomberg reported.
08-17-2015 The Senate Finance Committee on July 21 voted 23-3 to extend a $95.2 billion package of individual and business tax provisions known as tax extenders through 2016, including a modified version of the $1 per-gallon biodiesel tax credit.
07-22-2015 NATSO joined a group of petroleum retailers and marketers in urging members of the Senate Finance Committee to extend the $1 per-gallon biodiesel tax credit when it considers a package of individual and business tax provisions known as tax extenders July 21.
07-20-2015 Members of Congress returned to Washington to begin a four-week work period where they will need to address a number of significant policy matters, including funding the Highway Trust Fund, before the annual August recess.
07-09-2015 NATSO filed comments April 15 with the Senate Finance Committee in response to the committee’s call for stakeholder and public input on how best to overhaul the nation’s tax code.
04-16-2015 The U.S. House of Representatives late Dec. 3 approved a one-year renewal of more than 50 tax breaks, including the $1 per-gallon biodiesel tax credit.
12-04-2014 Despite reports that a bill renewing a series of expired tax credits is nearing completion, tax extenders legislation is becoming more controversial on Capitol Hill, threatening its chances of passing this year.
11-26-2014 NATSO and a group of associations representing the nation’s fuel retailers are urging Congress to act quickly on a tax extenders package, with particular support for a retroactive extension of the $1-per-gallon biodiesel tax credit.
11-14-2014