Politics of the Past

Debate on Bush-era tax cuts could be just what the biodiesel industry needs
By Luke Geiver | December 20, 2010
Predicting the future of the biodiesel tax incentive might be about as easy as understanding the main blockade holding up the incentive's renewal: politics. After multiple attempts during the past year to reinstate the tax incentive came close but fell short, one would think support for the industry was withering. But, both Democrats and Republicans voted for an amendment that included the renewal of the tax credit in a version of the recently passed Small Business Bill, which, when passed, did not contain any biodiesel provisions. In October, USDA Secretary Tom Vilsack specifically called for the renewal of the biodiesel tax incentive during a speech to the National Press Club in Washington. In November, Senator Tom Harkin, D-Iowa, again called for the renewal of the tax incentive. Now, even amidst a lame duck Congress, there is a chance the biodiesel tax incentive will be once again reviewed and reinstated. But, as Vilsack indicated during his October speech, the best chance for renewal is coincidentally related to politics of the past, and on top of that, he points out it will most likely have to find a way to pass during the debate of the Bush-era tax cuts.
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