Tax extenders — what’s out there for advanced biofuels?

December 3, 2014 |

US-capitolIn Washington, the Congress has reconvened for its “lame-duck” post-election session, and high on the agenda has been the “tax extenders” — a series of 55 or so popular corporate tax breaks, some nearly universal such as corporate research deductions. Some that impact individual industries, and advanced biofuels amongst them.

Primarily we hear this about the $1.01 per gallon biodiesel tax credit, which last expired at the end of 2013.

So, what’s the scoop?

The DC-based Digesterati suggest that it’s looking “more and more likely” that it will be a “one-year deal”, with the House pursuing “a silly extension through 2014” but the trade associations and lobbying groups have been “pushing people to keep fighting” because “some in the Senate” want to “keep on track towards a longer-term deal”. That could mean, for now, “extension through 2015 but it’s not clear whether “leadership is willing to keep up the fight”, and “the House is planning to leave” in just a few days.

Bottom line:  “Likely there’s something” but even the insiders are “not sure what or how”.

Along those lines, the National Biodiesel Board’s VP of Federal Affairs Anne Steckel said, between rounds in the ring:

“Obviously a one-year extension is appreciated but we are urging Congress to continue negotiating toward a two-year package that would provide more stability and certainty that’s needed to continue growth next year. The biodiesel tax incentive is a proven job creator. It stimulates production, but it is much more effective when producers can plan ahead for expansion and hiring.”

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