Daily Tax Report ®

Biofuel Companies, Railroads Feel Pain of Tax Extenders Delay

Feb. 25, 2019, 9:46 AM

Congressional inaction on tax extenders is starting to hurt the industries that count on them most.

Lincoln Energy Solutions Inc., a South Carolina-based retail and wholesale fuel distributor, has stopped buying and selling biofuel for this year because of Congress’ inaction on an expired tax credit that is precious to the industry.

“We cannot sell at a loss that is required to make the numbers work for all parties again,” Jim Farish, the company’s CEO, told Bloomberg Tax. “Our banks are aware of situation but they like us are not happy.”

Tax extenders are temporary provisions that are...

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