Still Waiting on Washington to Act
Jun 20, 2014
Pro Farmer Extra
- From the Editors of Pro Farmer newsletter -
June 20, 2014
Final 2014 RFS may come ‘late fall'
The Environmental Protection Agency (EPA) will not likely release final rules on the 2014 Renewable Fuel Standard (RFS) volume requirements until “late fall” this year, according to our sources. Ironically, one source says the 2014 final rule details could come out at or near the time EPA is required by law to announce the 2015 RFS volume details. Contacts continue to signal the ethanol volume requirement will likely be 13.6 billion gallons, with biodiesel at 1.28 billion gallons.
Permanent tax extensions mulled
Lawmakers from both parties and both chambers note a push is on to extend some lapsed tax incentive extenders permanently, such as Section 179 equipment expensing. The biodiesel tax incentive extension could be one that is not extended permanently but would still get a retroactive extension through 2015. Several biodiesel industry stakeholders have told lawmakers and congressional staff they are continuing to produce biodiesel on the expectation the incentive will be extended retroactively. If not, there will be significant financial implications for some.
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