Draft version of jobs bill contains US biodiesel tax credit extension

Biofuels Digest
February 10, 2010 Jim Lane

In Washington, a draft version of the new jobs bill working its way through the Congress includes an extension of the expired biodiesel tax, and Senator Charles Grassley of Iowa told reporters that he will “insist that expired tax provisions including the biodiesel tax credit” stays there. The expiration of the $1-per-gallon tax credit, after the Senate became bogged down in health care legislation, led to a near halt in US biodiesel production.

“The tax credit was allowed to expire at the end of 2009 due to political calculations by congressional leaders, putting biodiesel production and jobs in jeopardy,” Grassley said. “The sooner the tax credit is restored, the sooner biodiesel-related facilities and jobs can be saved from going under.”

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