New Government Spending Bill Does Not Include Tax Extenders

Although there was some discussion on Capitol Hill over the past few weeks about potentially attaching a tax extenders package to the spending bill to keep the government open, lawmakers decided to leave the extenders package out of the spending deal. The tax extenders package would likely have included a renewal of the $1 per gallon biodiesel blender’s tax credit and the oil spill liability tax (OSLT).

"There have been press reports stating that, if the extenders aren't part of the funding bill, they're dead — and I reject that conclusion," Grassley said yesterday. "Regardless of what happens on the bill to keep the government open, I will continue to fight to get the extenders enacted." There is still some hope that a tax reform “technical corrections,” retirement fix and disaster relief package could emerge in the coming months which could provide the legislative vehicle for a tax extenders package to hitch a ride.

Last week, PMAA sent a letter to House and Senate leadership in support of a 2018 retroactive renewal and multi-year extension of the $1 per gallon biodiesel blender’s tax credit, which expired on December 31, 2017. Click here to view the biodiesel tax credit letter. Additionally, the extenders package would likely have included a renewal of the oil spill liability tax (OSLT). Last month, PMAA sent a letter urging Congress to oppose a retroactive renewal of the OSLT. Click here to view the OSLT letter.

Other credits that would likely have been part of the tax extenders package include: installation of qualified alternative fuel vehicle refueling property in a home or business; the Alternative Fuels Excise Tax Credit for the use of propane as a transportation fuel, known as the “propane autogas tax credit;” and the Section 25C tax credit for the installation of qualified high-efficiency residential HVAC systems and certain energy-saving home retrofits.

PMAA - OLST/E.V/PROPANE TAX EXTENDERS UPDATE

`PMAA - OLST/E.V/PROPANE TAX EXTENDERS UPDATE`