The American Coalition for Ethanol (ACE) is urging the Conference Committee to include an extension of the Cellulosic Biofuel Tax Credit and Biodiesel Tax Credit as part of the Tax Cuts and Jobs Act.
“Extension of these provisions is critically important and consistent with the stated purposes of the tax bill of ‘growing our economy, bringing jobs back to our local communities, increasing paychecks for our workers, and making sure Americans are able to keep more of the money they earn,’” ACE CEO Brian Jennings said in a letter to Chairman of the Committee on Ways and Means Kevin Brady and Chairman of the Committee on Finance Orrin Hatch.
With growth in cellulosic and advanced biofuels constrained under the Renewable Fuel Standard volume obligations for 2018, Jennings says extending the tax credits is one of the “most important things the Conference Committee could do to support the existing biofuel sector and help spur its continued growth.”