Senate Finance Committee Approves Inclusion of Biofuels Tax Extenders, ABFA Responds
Thursday, April 3, 2014
The Senate Finance Committee approved the “Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act” today by voice vote.
The bill aims to extend the four key advanced biofuels tax provisions through 2015 as part of a larger package of tax credit extensions. These four key advanced biofuels incentives include (1) Second Generation Biofuel PTC, (2) Second Generation Biofuel Special Depreciation Allowance, (3) the Incentives for Biodiesel and Renewable Diesel, and (4) the Incentives for Alternative Fuels and Alternative Fuel Mixtures.
In response, ABFA has released the following statement attributable to President Michael McAdams.
“We applaud the Finance Committee and Chairman Wyden for supporting the advanced biofuels tax incentives included in the extenders legislation. These extenders send a significant signal to the advanced and cellulosic industry and to the markets regarding the sustained support at the federal level, and our members appreciate the certainty of a two-year extension.”