Propane Benefits in Year-End Legislation
Washington, DC (December 18, 2015) – Today, 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 propane 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 refueling property credit will promote domestic fuels like propane, 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 leveled the playing field among alternative fuels in the form of excise tax equalization. These tax provisions will help the propane 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 propane 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 propane industry that are planning future investment projects.
Roldan concluded, “Working together with the private sector, Congress passed legislation that supports small businesses and helps Americans make smart energy choices. The members of the propane industry extend their gratitude to the Members of Congress and staff who made this bill possible.”
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