Fuel Retailers Celebrate Budget Reconciliation Passage
The fuel retail sector has welcomed a significant legislative milestone as NATSO, the representative body for truck stops and travel centers, alongside SIGMA, the leading fuel marketers in America, applauded the recent passage of a comprehensive tax reform package by Congress. This bill is poised to stimulate growth, investment, and job creation within the fuel retail and travel center industries.
David Fialkov, Executive Vice President of Government Affairs for both NATSO and SIGMA, expressed gratitude towards the Trump Administration and congressional leaders for championing a strong tax reform initiative that aligns with the nation’s economic aspirations and energy objectives. The proposed changes are designed to foster a competitive tax environment and promote technology-neutral policies regarding biofuels, a pivotal aspect of the fuel marketing landscape.
According to Fialkov, this legislation represents a monumental achievement for America’s fuel retailers, their workforce, and the communities they serve. The inclusion of crucial tax provisions such as the Section 199A Qualified Business Income Deduction and the full deduction of capital investments is anticipated to ignite innovation within the competitive marketplace.
Moreover, the updated '45Z' Clean Fuel Production Tax Credit, which aims to streamline tax treatment across various biofuels, is a significant move towards revitalizing U.S. biofuel production. Fialkov highlighted the importance of ensuring that sustainable aviation fuel (SAF) receives equivalent tax incentives as traditional biofuels such as biodiesel and renewable diesel. This approach to modifying the '45Z' credit to be technology-neutral is hailed as essential for promoting a diverse biofuel market while minimizing costs for taxpayers.
By equalizing tax incentives for SAF with other biofuels, the legislation is set to encourage increased production and consumption of biofuels, benefitting both the environment and the economy. This legislative win is a crucial step forward, with the potential to enhance the overall growth trajectory of the fuel retail industry.
About NATSO and SIGMA
NATSO, founded in 1960, stands as the primary advocate for America’s truck stop and travel center industry. The organization engages in legislative and regulatory discussions, provides valuable resources to its members, and organizes annual conventions to facilitate industry collaboration and knowledge sharing. More information can be found at
NATSO.com.
SIGMA, established in 1958, is recognized as a leading trade association for innovative fuel marketers and retailers across the United States and Canada. With a diverse membership that includes around 250 independent chain retailers and marketers, SIGMA aims to represent and support both branded and unbranded fuel segments. Further details are available at
SIGMA.org.
As the fuel retail industry adapts to a rapidly changing environment, these reforms will undoubtedly play a critical role in shaping a more competitive and sustainable future, fostering economic growth, and enhancing energy independence in the United States.