Algae biofuel industry seeks tax incentive

UPI.com
Published: March. 4, 2010 at 3:06 PM

WASHINGTON, March 4 (UPI) -- The U.S. Congress is coming under increased lobbying pressure from the Algal Biomass Organization, a non-profit organization devoted to promoting the development of viable commercial markets for renewable and sustainable commodities derived from algae.

In a statement Thursday, ABO called on Congress to provide tax parity to algae biofuels and make incentives available to the industry at parity with other biofuel industry sectors.

Modest changes in federal tax policy would address significant barriers to commercialization of algae fuels and help create new jobs, said the organization, the leading trade association for the industry.

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