House approves extension of biodiesel credit that industry calls vital

The Hill E2 Wire
By Ben Geman - 12/09/09 07:34 PM ET

The broad $31 billion tax extenders package the House approved Wednesday afternoon includes a one-year extension of the $1-per-gallon tax credit for biodiesel that is set to lapse at year's end.

The bill, approved 241-181, would extend the credit through 2010, but the Senate must still act on the plan.

The industry’s main trade group, the National Biodiesel Board, warned in a report Tuesday that letting the incentive die would be disastrous for an already troubled industry.

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