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Sep 15, 2016
The American Soybean Association (ASA) continues its efforts to secure an extension of the biodiesel tax credit, which expires again at the end of 2016. While a “tax extenders” package had become an annual occurrence in Congress, changing dynamics have made it even more challenging and far less certain than past years. The tax package enacted in 2015 extended the biodiesel tax credit through 2016, but a number of the larger tax credits were made permanent or extended for fiveyears, leaving a group of smaller credits vulnerable to inaction while Congress contemplates comprehensive tax reform.
In an effort to demonstrate the benefits and support for extension of the remaining credits, ASA has joined in coalition with other stakeholders to push Congress to consider a tax package during the lame duck session in 2016. The group letter, signed by a range of organizations including agriculture and other sectors, can be viewed here.
