Senate Finance Committee Moves to Correct the LNG Excise Tax Penalty
On Thursday, the Senate Finance Committee recessed after adopting a provision to correct the LNG excise tax penalty. The measure was included in legislation that would provide a temporary solution to finance the nation’s highway system, the Preserving America’s Transit and Highways Act (PATH Act). The provision was added due to the diligent work of Sens. Michael Bennet (D-CO), Richard Burr (R-NC) and Ranking Member Orrin Hatch (R-UT), and due to the hard work of the numerous NGVAmerica members who, over the past couple of days, have been meeting with their Senators. The PATH Act does not address the extension of the alternative fuel and infrastructure credits. This is just a first step in the long process to correct the inequity. The Finance Committee is expected to take up this measure when it returns from its July 4 recess. For copies of the Finance Committee legislation, go to http://goo.gl/UnI2tK To visit the Senate Finance Committee website, go to www.finance.senate.gov.