AF&PA Statement on Proposed Retroactive Repeal of Renewable Fuel Tax Credit
Press release from the issuing company
American Forest & Paper Association President and CEO Donna Harman released the following statement today in response to the proposed retroactive repeal of the renewable fuel tax credits.
“We oppose the retroactive tax increase being proposed to pay for a new highway bill. Congress prospectively repealed the paper industry’s eligibility for the cellulosic biofuel tax credit in 2010. This bill now retroactively changes the ability of companies to claim credit carry forwards they are entitled to under the law for 2011. The year has closed and companies’ tax returns are not due until March 15. Retroactive tax increases are bad tax policy and harm companies that are trying to make investments to get jobs and the economy going again.”
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