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President Biden calls on Congress, States for fuel tax holiday; increase in refinery capacity

Green Car Congress

President Biden called on Congress to suspend the federal gas tax for the next 90 days, through the busy summer driving season—18 cents per gallon for gasoline and 24 cents per gallon for diesel. He also called on states to suspend their state gas taxes as well or to find other ways to deliver some relief.

Congress 259
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Sen. Baucus draft for energy tax reform focuses on clean production of electricity and fuels; repeals plug-in vehicle credits

Green Car Congress

If Congress continues to extend current incentives, they will cost nearly $150 billion over 10 years. The maximum investment tax credit is 20% of the cost of the investment. Generally the investment tax credit cannot be claimed for facilities that begin to operate before January 1, 2017. Clean fuels tax credit.

Tax 281