December 7, 2020
BY Erin Krueger
Several biofuel and bioenergy groups are among nearly 70 trade organizations that sent a letter to congressional leadership last month urging the passage of tax extenders legislation before the 116th Congress adjourns sine die.
“Numerous tax extenders are currently set to expire at the end of 2020,” the groups wrote. “Previous lapses of these temporary tax provisions have caused confusion and hardship for the many industry sectors and individuals that utilize these tax incentives. Allowing these tax extenders to lapse at the end of 2020 would undermine their effectiveness, threaten thousands of jobs in the U.S. economy and cause needless uncertainty for taxpayers at a time when many are coping with severe economic hardship. These measures have a direct impact on hiring, job retention, and business investment and their extension would have a positive impact on an economy in serious need of recovery.
“Giving taxpayers stable tax rules by providing an uninterrupted extension of expiring tax provisions is a common-sense step Congress can take to help America’s entrepreneurs and job-creators navigate challenging economic times,” they continued. Accordingly, we respectfully ask that you act to seamlessly address tax extenders before the beginning of the next Congress.”
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According to the Congressional Research Service, the production tax credit for renewable electricity, the second generation (cellulosic) biofuel producer credit, the special depreciation allowance for second generation (cellulosic) biofuel plant property, and the credit for alternative fuel vehicle refueling property are among the tax credits scheduled to expire at the end of this year. The blenders tax credit for biodiesel and renewable diesel is currently set to expire at the end of 2022.
The Renewable Fuels Association, Advanced Biofuels Association, Advanced Biofuels Business Council, American Biogas Council, Biomass Power Association, Biotechnology Innovation Organization, Growth Energy, and the Coalition for Renewable Natural Gas are among the groups that signed the letter.
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The European Commission on July 18 announced its investigation into biodiesel imports from China is now complete and did not confirm the existence of fraud. The commission will take action, however, to address some systemic weaknesses it identified.
Kintetsu World Express Inc. has signed an additional agreement with Hong Kong, China-based Cathay Pacific Airways for the use of sustainable aviation fuel (SAF). The agreement expands a three-year partnership between the two companies.
On July 18, U.S. EPA announced a reduction in force (RIF) as the agency continues its comprehensive restructuring efforts. With organizational improvements, EPA is delivering $748.8 million in savings.
Broco Energy on July 17 announced a new partnership with the Massachusetts Port Authority (Massport) to deliver and transition Massport's fuel tanks to renewable diesel across its various facilities.
Shell Aviation, Accenture, and Amex GBT on July 10 announced Avelia is in the process of evolving to an industry solution with independent data hosting and a multi-supplier model helping users access the GHG benefits of SAF.