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Tax Extenders including Biodiesel Tax Credit Still in Limbo

 

Congress is still debating on what to do with a government spending bill, tax extenders, a retirement bill and technical fixes to the GOP’s “Tax Cuts and Jobs Act.” Currently, government funding expires on November 21 and it is likely that Congress will pass a short-term extension into December. If this occurs, Congress could approve the remaining full year appropriations bills for the Fiscal Year and attach a tax extenders, retirement fixes and technical fixes to the GOP’s Tax Cuts and Jobs Act before Christmas, which will likely include a retroactive extension of the biodiesel blender’s tax credit, at least through 2019, as well as a prospective renewal of the oil spill liability tax (OSLT). The good news is that the biodiesel blenders tax credit enjoys bipartisan support as this remains a top priority for Senate Finance Committee Chair Chuck Grassley (R-IA).

Additionally, 40 House democrats gave their stamp of approval on renewing the biodiesel tax credit this week. Click here to urge your members of Congress to renew the $1 per gallon biodiesel blender’s tax credit.

From PMAA

Tax Federal







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