Senate extenders bill includes $1 per gallon biodiesel tax credit
After seven months of being out of play, the $1 per gallon U.S. biodiesel tax credit is included in legislation scheduled for markup Aug. 2 by the Senate finance committee.
The "Family and Business Tax Cut Certainty Act of 2012” proposes to reinstate the biodiesel tax credit (including the renewable diesel credit) retroactive back to Jan. 1, 2012, the day after it expired, through Dec. 31, 2013. If successful, this would be a victory for those who have pushed hard the past few years for a multiyear extension of the credit, including the National Biodiesel Board.
“It’s clearly just one step in the process,” said Mark Palmer, senior director of government issues at Washington, D.C.-based law firm Van Ness Feldman P.C., “but I think the fact that biofuels are part of the conversation is a good thing.”
The proposal also aims to expand the $1.01 cellulosic biofuel tax credit to include fuel produced from algae.
4 Responses
mohammad yasir
2012-08-02
1very intesting sir
Heisen Berg
2012-08-02
2Why is this required when blending requirements for obligated parties has been written into law? For a fraction of the spend deploy some EPA enforcement such that the regulations are adhered to.
Mert
2012-08-08
3Who earns this credit? Users? Producers?
Charles Churchman, PE
2012-08-09
4What is the House stand on this? Seems unlikely to make it through reconciliation.
Leave a Reply
Biodiesel Magazine encourages civil conversation and debate. However, comments containing personal attacks, profanity, business solicitations or other advertising will be deleted.
Comments are closed