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U.S. Legislative Updates
The Internal Revenue Service has issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on January 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. Revenue Procedure 2010-51 contains additional details regarding the standard mileage rates. EPA Finalizes Renewable Energy Standards The U.S. Environmental Protection Agency (EPA) has finalized the 2011 percentage standards for the four categories of fuel under the agency’s renewable fuel standard program, known as RFS2. The Energy Independence and Security Act (EISA) amended the Clean Air Act to greatly increase the total required volume of renewable fuels each year, reaching a level of 36 billion gallons in 2022. To achieve these volumes, EPA calculates percentage-based standards for the following year. Based on the standards, each producer and importer of gasoline and diesel determines the minimum volume of renewable fuel that it must ensure is used in its transportation fuel. The final 2011 overall volume and standards are: Cellulosic biofuel - 6.6 million gallons; 0.003 percent Biomass-based diesel - 800 million gallons; 0.69 percent Advanced biofuel - 1.35 billion gallons; 0.78 percent Renewable fuel - 13.95 billion gallons; 8.01 percent No Action on Biodiesel in Lame Duck Session Although Congress is meeting in a "lame duck session," there has been no action on extending the tax credits for biodiesel, propane, and natural gas which expired on December 31, 2009. There has also been no final action taken on an extension of the 45-cents per gallon tax credit to refiners that blend ethanol with gasoline which expires on December 31 of this year. EPA Delays E15 Decision EPA has announced that it is delaying its decision on whether to allow the use of E15 in model year 2001-2006 vehicles. The decision was expected in December, following the completion of vehicle testing by the Department of Energy (DOE). DOE has told EPA, however, that testing will now not be completed until late December.
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