Tax Credit Update

September 20, 2010

Before Congress reconvened on Sept. 13, the latest news on the biodiesel tax incentive extension remained linked to one thing: Congress. After struggling to find a capable legislative vehicle early this year, many believed the tax extension would finally pass in the unemployment bill, but shortly before the bill went to the Senate floor, the biodiesel portion was stripped. The next opportunity, the small business bill, came as Congress was leaving for August recess, but a biodiesel amendment approved by both parties from Sen. Charles Grassley, R-Iowa, also fell prey to the political wrangling of Congress. With Congress back in session, the best chance still remains in a revisited, new version of the small business bill. Sen. John Kerry, D-Mass., has also proposed an energy bill that would reinstate and extend the tax incentive for two years, but to date, the bill has seen minimal attention.

Advertisement

Advertisement

Upcoming Events

Sign up for our e-newsletter!

Advertisement

Advertisement