The American Bakers Association expresses thanks to Congressman Mike Kelly (R-PA-03) and Ron Kind (D-WI-03) on introducing the “Powering American Jobs Act of 2015” (H.R. 2517 to extend tax credits on alternative fuels.
The bill works to address three main tax incentives for bakers who use Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) in their vehicles and fork lifts:
- 2 year extension of the 50 cent per gallon alternative fuel excise tax credit
- 2 year extension of the infrastructure refueling credit
- Adjustment of excise tax to be on energy content basis (Alternative Fuels are currently taxed 18.3 cents per gallon, yet require 1.36 gallons of fuel to heat the same equivalent as 1 gallon of gasoline)
ABA will be working with Members of Congress to ensure that this language is included in a long term Highway Reauthorization package.