Tag: Legislative Updates

EPA Finalizes 2013 Renewable Fuel Standard (RFS)

In August the U.S. Environmental Protection Agency established the 2013 annual percentage standards for the RFS program for biofuel, biomass based diesel, biofuels and renewable fuels. These standards will apply to all gasoline and diesel produced or imported in 2013. The EPA also provided more lead time to obligated parties to demonstrate compliance with the […]

Ethanol Update

MRAA attended a meeting last week organized by the Ethanol Coalition. The overall feeling was that Congress itself has done little legislative work. However, the coalition felt Congress is still on schedule for hearings and perhaps reform/repeal legislation in October, which is the original goal. A press gathering was held in San Francisco in August […]

Update on Second Home Mortgage Interest Deduction

Members of the House and Senate tax-writing committees are putting together legislative drafts that may determine the fate of one of our most prized tax benefits, the second home mortgage interest deduction. In addition other key tax deductions, such as, property tax write offs and capital gains exclusions are on the table for elimination too. […]

Conversion to Sub-octane Gasoline Threatens Boating

A member of MRAA sent staff a note with great concern about significant increases to the price that distributors will be charging for gasoline beginning on September 16. According to the material supplied to the MRAA office, the primary driver of the conversion to sub-octane (typically 84-octane) gasoline is the Renewable Fuels Standard passed by […]

Bill Status of Fair Minimum Wage Act of 2013

Congress is discussing the possibility of increasing the federal minimum wage. The passage of this could affect your business. as S. 460 would increase the wage to over $10.00 per hour from the current $7.25. The Obama Budget includes a new wage of $9.00. Also, a companion bill in the House (H.R. 1010) has been […]