SenateTax-Writing Committee Considers Energy Tax Policy; No Discussion of Biodiesel
The Senate Finance Committee on May 14 held a hearing on energy tax policy, the first committee hearing on this topic in the current Congress. The truckstop and travel plaza industry’s primary interests in this space at the present time are the $1.00/gallon biodiesel blenders’ tax credit, as well as the $0.50/gallon alternative fuel tax credit and alternative fuel mixture tax credit (applicable to sales of LNG and CNG, among other fuels). These provisions, which are scheduled to expire at the end of 2016, were not discussed at the hearing.
One witness at the hearing, Steve Miller, CEO of Oregon-based Bulk Handling Systems and Zero Waste Energy, bemoaned that tax incentives for biomass generation will expire at the end of this year, and said that is hurting companies such as his. He called on Congress to extend those credits for five years with no phase out, and allow the biogas that is used as a transportation fuel to qualify — it currently only qualifies if used to produce electricity.
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.
