BIO-Fuel Tax Credit

New Yorkers are in a heating fuel crisis. This has pushed the greater public to increase their attention on alternative heat sources. One of these sources is BIO-Fuels. Just last year, then Governor Eliot Spitzer offered a Bio-Fuel Tax Credit in his budget. Many elected officials saw it as a part of a multi-pronged incentive to wean New York consumers away from our oil addiction. 

Assemblymen Sweeney and Cahill sang the praises for this tax break as a justified effort to advance its usage throughout the state. The State Senate, surprisingly passed the measure knowing Bruno and Spitzer made a deal to kill the proposal in the budget process. 

With an environmentally savvy Governor and a promising new Senate leadership as of November 4th, the chance of passing the BIO-Fuel Tax Credit to participating New Yorkers is a sincere possibility.  

Why is BIO-Fuel such a good alternative? Sulfur emissions. There are no regulations regarding the amount of sulfur permitted in heating fuel, unlike diesel. Almost three million NY households depend on heating fuel oil to survive the winter.  

The Tax Credit would be an incentive to diminish the level of the toxins emitted from burning oil. These toxins are responsible for a myriad of bronchial and lung problems within the community as well as contributing to the acidic rain levels that affect our whole eco system. 

When the Assembly and Senate entertain this initiative again, we will pass it out of both houses, with one difference: the Governor will sign it, and the New York consumer will have a more fiscally sound choice to heat their home.