This week, APGA signed on to a letter in support of the Alternative Fuels Tax Credit (AFTC). The letter, sent to Chairman Richard Neal (D-Mass.) and Ranking Member Kevin Brady (R-Texas) of the House Ways and Means Committee, and Chairman Chuck Grassley (R-Iowa) and Ranking Member Ron Wyden (D-Ore.) of the Senate Finance Committee, calls for Congress to immediately reinstate the AFTC for tax years 2018 and 2019. The AFTC was last renewed in the 2018 Bipartisan Budget Act retroactively for tax year 2017.
The letter notes that “full five-year extension of the AFTC would provide business certainty along with a significant contribution to our nation’s economic growth.” Additionally, the letter outlines the AFTC brings “significant environmental benefits, improved air quality, and enhance our energy independence” as well as “increased private-sector investment in infrastructure and equipment, which leads to more jobs and economic output.”
The AFTC is a $0.50 per gallon of gas equivalent excise tax credit on the sale of natural gas and other alternative fuels for transportation. APGA has long advocated for a long-term extension of the credit as a means to support the growth of the natural gas vehicle (NGV) industry across the board. The AFTC also helps bring a degree of parity with other fuels and vehicle technologies, such as electric vehicles. Increased NGV deployment in the transportation sector helps diversify the fuel mix, decrease emissions and pollution, and create jobs.
For questions on this article, please contact Doug MacGillivray of APGA staff by phone at 202-464-2742 or by email at firstname.lastname@example.org