Industry Updates: Biomass Stove Tax Credit

HPBA continues working with congressional offices during this legislative session to renew the biomass stove tax credit (both retroactively and prospectively) for purchases made in 2017 and beyond. 

The House Energy & Commerce Committee held a hearing on March 29, 2017 to explore the role of energy tax incentives and their effect on the energy market place. Although the Energy & Commerce Committee is not the panel that will be calling the shots on energy tax policy, it was encouraging that the discussion has begun early in the 115th Congress. HPBA crafted a letter for the record which was submitted by a Member of Congress on the panel.

View the letter>

 

In response to the Senate Finance Committee's request for feedback on tax reform, HPBA sent a letter on July 14, 2017 emphasizing the benefits of the biomass stove tax credit for consumers and small businesses. A stable, reliable tax credit for biomass stoves would help struggling small businesses, most of which are located in rural communities, make their products more marketable to a customer base that very badly needs such an incentive to make such a purchase. These incentives support a small industry which provides at least 6,200 manufacturing jobs.

View the letter>