On February 9, Congress passed and President Trump signed the Budget Act of 2018 into law. Included in the package was a package of tax extensions that BTEC had identified as a vehicle for enacting the BTU Act. Unfortunately, despite strong support in the Senate, the BTU Act tax credit was not included in the Budget Act and BTEC is looking forward and identifying opportunities to attach the BTU Act, including an Omnibus Bill in March. BTEC will be meeting with its champions in the Senate on February 15 to plan further action.
While this development was very disappointing, some positive news in the Budget Act was the retroactive extension of the Residential Wood/Pellet Stove credit for systems with a minimum efficiency of 75%. These credits are effective through, December 31, 2017. Congress has yet to determine the future of these credits for 2018 and beyond.