On December 15, Congress unveiled a massive tax and spending package that will be debated over the remainder of this week. 黑料社区will be analyzing the thousands of pages of legislation in the coming days, but is pleased to report that some lawmakers’ efforts to convert the biodiesel blenders credit to a biodiesel producers credit has failed.
After months of intense advocacy efforts by 黑料社区and other interested stakeholders, the draft legislation would maintain a biodiesel blenders tax credit for 2015 (retroactive to 2015) and 2016. This represents a significant victory for 黑料社区and the fuel marketing community. A sincere thanks to 黑料社区members that contacted their elected representatives over the past several months — the efforts appear to have paid off.
Congress still has to vote on — and President Obama has to sign — the tax and spending packages. This is expected to happen later this week. In the event that the packages do not receive sufficient support, Congress’s “fallback” tax plan also would maintain a biodiesel blenders credit for 2015 and 2016.
In the coming days 黑料社区will report on the variety of other important policy items contained in the legislation, including: a repeal of the long-standing crude oil export ban; extensions of alternative fuel (i.e., natural gas) tax credits; and extensions of bonus depreciation and research and development (R&D) tax credits.
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