Biofuels Coalition Applauds House Ways and Means Committee Chairman Richard Neal (D-MA) for Three-Year Tax Extenders Proposal

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Jun 12, 2019, 10:40 ET

ALEXANDRIA, Va., June 12, 2019 /PRNewswire/ -- NATSO, the national association representing truckstops and travel plazas, along with the Advanced Biofuels Association (ABFA), American Trucking Associations (ATA), National Association of Convenience Stores (NACS), the New England Fuel Institute, the Petroleum Marketers Association of America (PMAA), and the Society of Independent Gasoline Marketers of America (SIGMA) issued the following statement today in response to reports that House Ways and Means Committee Chairman Richard Neal (D-MA) plans to introduce legislation that would extend temporary tax provisions through 2020.

"On behalf of the coalition to support the extension of the biodiesel blenders tax credit and other biofuels tax provisions, we thank the Chairman of the House Ways and Means Committee for his proposal to extend these tax policies through 2020. A three-year extension is a welcome proposal that all of us support.

"These extender provisions affect the jobs of thousands of Americans who have been waiting 1-1/2 years for the extensions. The tax credits have a direct relationship to the amount of renewable fuels that are blended into our nation's supply of liquid transportation fuels and home heating oil and the amount of carbon reductions achieved as a result. We trust and depend on our institutions of government, both the House of Representatives and the Senate, to protect the jobs and livelihood of affected Americans.

"Although Chairman Neal's proposal may not be perfect, we are grateful for Chairman Neal's good-faith efforts to craft compromise legislation. The Neal proposal should be viewed as a helpful step in the right direction toward providing our industries the certainty they need to continue bringing advanced biofuels to market. We urge leaders in both the House and Senate to continue working toward an equitable compromise as soon as possible."

NATSO is the trade association of America's travel plaza and truckstop industry. Founded in 1960, NATSO represents the industry on legislative and regulatory matters; serves as the official source of information on the diverse travel plaza and truckstop industry; provides education to its members; conducts an annual convention and trade show; and supports efforts to generally improve the business climate in which its members operate.

CONTACT: Tiffany Wlazlowski Neuman
Phone: (703) 739-8578

SOURCE NATSO, Inc.