Biodiesel tax credit in Senate jobs package
January 19, 2010
BY Ron Kotrba
Posted February 11, 2010
Draft legislation to renew the $1-per-gallon biodiesel blend credit, part of the Senate jobs package, is "floating around" Congress, confirmed Manning Feraci, National Biodiesel Board's vice president of federal affairs.
It's a one-year extension-not a multi-year credit as many hoped-and the bill will not be officially introduced until the week of February 22 thanks to a virtual shutdown of the nation's capital for the rest of this week resulting from the second massive winter snowstorm within days that buried the city. Next week, Congress is out for a scheduled break so members can return to their home districts.
Feraci said it appears that the credit will be retroactive back to Jan. 1 and will likely receive bipartisan support.
The jobs package includes several time-sensitive measures such as extension of unemployment benefits, which expire Feb. 28, so Feraci is hopeful the legislation will be expedited through Congress and signed by the president very soon. "We're optimistic, but we still need your help," he pled to industry stakeholders at the 2010 National Biodiesel Conference & Expo in Grapevine, Texas.
Draft legislation to renew the $1-per-gallon biodiesel blend credit, part of the Senate jobs package, is "floating around" Congress, confirmed Manning Feraci, National Biodiesel Board's vice president of federal affairs.
It's a one-year extension-not a multi-year credit as many hoped-and the bill will not be officially introduced until the week of February 22 thanks to a virtual shutdown of the nation's capital for the rest of this week resulting from the second massive winter snowstorm within days that buried the city. Next week, Congress is out for a scheduled break so members can return to their home districts.
Feraci said it appears that the credit will be retroactive back to Jan. 1 and will likely receive bipartisan support.
The jobs package includes several time-sensitive measures such as extension of unemployment benefits, which expire Feb. 28, so Feraci is hopeful the legislation will be expedited through Congress and signed by the president very soon. "We're optimistic, but we still need your help," he pled to industry stakeholders at the 2010 National Biodiesel Conference & Expo in Grapevine, Texas.
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