Topics: biodiesel tax credit

Congress Passes Tax Extenders Legislation, Including Biodiesel Blenders Credit

Congress passed a tax extenders package that contains a clean, two-year extension of the biodiesel blenders credit (retroactive to Jan. 1, 2015). This is a significant victory for NATSO and the fuel marketing community. After months of intense advocacy efforts opposing a shift from a blender credit to a producer credit, Congress ultimately agreed with NATSO that a blenders credit is better for consumers and the best way to encourage domestic consumption of biodiesel. More

Biodiesel Update: Tax Credit and RFS Volume Numbers

NATSO is continuing its outreach to policymakers on Capitol Hill and the Administration regarding biodiesel policy. Additionally, NATSO met last week with the White House Office of Management and Budget (OMB) to discuss the forthcoming Renewable Fuel Standard (RFS) biodiesel volume obligations for 2014-2017. More

ATA Supports Keeping Biodiesel Tax Credit for Blenders

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. More

Biodiesel Update: Policymakers To Consider Important Choices on RFS, Biodiesel Blenders Tax Credit in Coming Weeks

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. More

NATSO Urges Congress to Leave Biodiesel Tax Credit Unchanged

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. More

IRS: Treat 2014 Fuel Tax Credits as If They Hadn't Expired

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. More

Senate Committee Advances Tax Extenders, Shifts Biodiesel Tax Credit Upstream

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. More

NATSO Urges Senate Finance to Extend Biodiesel Tax Credit

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. More

Lawmakers Divided Over Highway Bill

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. More

NATSO Responds to Finance Committee Call for Tax Reform Input

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. More

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