U.S. Congress passes legislation that brings relief to Autogas industry
In December, the Congress passed H.R. 2029, the combined tax-relief and government funding legislation, bringing tax certainty, valuable research dollars, and regulatory relief to the Autogas industry.
Rick Roldan, NPGA’s President and CEO congratulated Congress on taking decisive action to support the needs of small businesses and American energy consumers: “When Congress works together, consumers are the ultimate beneficiaries. The two-year extension of the Alternative Fuels Tax credit and the refuelling property credit will promote domestic fuels like Autogas, make it easier to get more clean vehicles on the road, and save consumers money. NPGA would like to thank Representatives Mike Kelly (R-PA) and Ron Kind (D-WI) for providing the bi-partisan leadership to advance these credits in Congress.”
Earlier this year, Congressmen Kelly and Kind introduced the Powering American Jobs Act of 2015. This legislation included the two year extension of these tax credits as well as language that levelled the playing field among alternative fuels in the form of excise tax equalization. These tax provisions will help the Autogas industry make long-term investments in their communities.
Recognizing the opportunity to increase the use of alternative fuels in a variety of applications, H.R. 2029 provides funding for Department of Energy research on Autogas direct injection engines and small scale combined heat and power projects.
Two additional business tax provisions were included in today’s bill. The permanent expansion of Section 179 expensing and the five-year extension of Bonus Depreciation will bring greater financial certainty to the small businesses in the Autogas industry that are planning future investment projects.