Alternative fuel tax credits extended retroactively

President Trump signed a funding bill into law that holds extensions for 2017 of the alternative fuel tax credit, according to the National Propane Gas Association (NPGA).

NPGA and other organizations lobbied for two months to achieve the objective. Despite the retroactive extension for 2017, NPGA is concerned with a statement issued by the Trump administration that reads, “The administration is concerned with future extensions of special interest tax deductions and benefits in the wake of tax cuts and reforms that were enacted in December 2017.”

However, NPGA learned that the House Ways and Means Tax Policy Subcommittee will host hearings on tax extenders, according to Chairman Vern Buchanan, R-Fla. NPGA says it plans to use the hearings to urge extension of tax credits that encourage the future action on alternative fuels, rather than rewarding past behavior.