Hubbard also requested Congress provide a multi-year extension and expansion of the Alternative Vehicle Refueling Property Credit, which provides a tax credit equal to 30 pct -- up to $30,000 -- of the cost of any qualified alternative fuel vehicle refueling device. The tax credit currently is limited to single-use, dedicated pumps, but should be expanded to take into account the increased use of blender-style pumps. (Source: Renewable Fuels Assoc., 14 Mar., 2018)
Contact: RFA, Edward Hubbard, RFA General Counsel, (202) 289-3835, www.ethanolrfa.org
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"Extension of these provisions is critically important and consistent with the stated purposes of the tax bill of 'growing our economy, bringing jobs back to our local communities, increasing paychecks for our workers, and making sure Americans are able to keep more of the money they earn.'"
"The nation's biofuel sector generates $184.5 billion in annual output, supports 852,000 jobs, pays $46 billion in wages, remits $14.5 billion in taxes, and saves taxpayers about $10 billion per year by reducing the need for farm program payments."
"One of the most important things the Conference Committee could do to support the existing biofuel sector and help spur its continued growth would be to extend the Cellulosic Biofuel Tax Credit and Biodiesel Tax Credit in the final bill." (Source: American Coalition for Ethanol, Dec., 2017) Contact: American Coalition for Ethanol, Brian Jennings, CEO, (605) 334-3381, https://ethanol.org
More Low-Carbon Energy News American Coalition for Ethanol, Cellulosic, Ethanol, Biofuel Tax Credit ,