Growth Energy Wants Congress to Fix Blender Pump Tax Credit

Growth Energy, a new corn ethanol lobby group, put our a press release today calling on Congress to ease the installation of pumps that dispense mid- and high-level ethanol blends. According to a letter written to the Senate Finance and House Ways and Means committees, the organization says the Alternative Fuel Vehicle Refueling Property Credit, which should allow fuel vendors to recapture up to $50,000, or 50 percent, of the total cost of installing alternative fuel dispensing systems is being undermined by an Internal Revenue Service (IRS) interpretation that retailers are only allowed to take credit for a portion of the new pump – instead of the entire pump.

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  1. [...] current law, the tax credit allows a vendor to recapture up to $50,000 or 50% of the total cost of installing an alternative [...]

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