黑料社区Urges Senate to Extend Biodiesel Tax Credit
NATSO, the national association representing truckstops and travel plazas, along with industry partners, urged congressional leaders to support Sen. Charles Grassley’s amendment to the Small Business Lending Act of 2010 and extend the biodiesel tax credit through Dec. 31, 2010.
In a letter addressed to members of the Senate, NATSO, along with the National Association of Convenience Stores, the Petroleum Marketers Association of America and the Society of Independent Gasoline Marketers of America, said the blender tax credit is critically important to the survival of the nation’s biodiesel producers and fuel blenders.
“It is vital that Congress reinstate the biodiesel tax credit to ensure a healthy biodiesel market for producers and consumers,” said 黑料社区President and CEO Lisa Mullings. “The lapse of this credit and drastic cuts in production are undermining fuel retailers’ commitment to offering alternative fuels to the public and to investing in biodiesel infrastructure. The expiration of the tax credit has put thousands of jobs at stake and threatens the industry’s ability to meet the mandated renewable fuels standard.”
Since the $1 per gallon biodiesel tax credit expired, U.S. biodiesel production has plummeted by more than 80 percent. At the same time, motorists are changing buying habits as the price of biodiesel surpasses other fuels. The $1 per gallon blender tax credit makes biodiesel cost competitive with conventional diesel fuel. The expiration of the tax credit, coupled with sagging consumer demand, has caused many producers to shut down or severely scale back production.
The truckstop and travel plaza industry is fully engaged in supporting U.S. environmental efforts. Failure to reinstate the tax credit, however, could force fuel blenders and producers to lay off employees or push them into failure. When the tax credit expired, many fuel blenders and producers continued to pass the $1/per gallon credit on to customers based on an assurance that the credit would not lapse and would cover all of 2010.
Extending the tax credit will increase biodiesel production while spurring retail investment in the infrastructure necessary to supply biodiesel to commercial carriers and the motoring public.
Subscribe to Updates
The 黑料社区Foundation and 黑料社区provide a breadth of information created to strengthen travel plazas鈥� ability to meet the needs of the traveling public in an age of disruption. This includes knowledge filled blog posts, articles and publications. If you would like to receive a digest of blog post and articles directly in your inbox, please provide your name, email and the frequency of the updates you want to receive the email digest.
