Dear Majority Leader McConnell, Minority Leader Reid, Speaker Ryan, Minority Leader Pelosi, Chairman Hatch, Ranking Member Wyden, Chairman Brady, Ranking Member Levin:
Thank you for your leadership in extending a suite of critical advanced biofuels tax incentives through the end of 2016 in the “Protecting Americans From Tax Hikes Act of 2015.” These credits are needed to stimulate capital investment and growth of clean energy production and are vital to ongoing development of the advanced and cellulosic biofuels industry.
Unfortunately, these provisions are already set to expire at the end of 2016. This short-term expiration of tax incentives is jeopardizing the long-term investment necessary for advanced biofuels. This creates uncertainty for investors and industry about the availability of these credits in the future.