Senate approves $1-a-gallon tax credit for biodiesel

Biodiesel

12-03-10

The U.S. Senate approved a bill that extends the $1-a-gallon tax credit for biodiesel, which expired Dec. 31.

The credit was included in a $138 billion measure that would extend unemployment benefits and provide more aid to states in an effort to boost the economy. The biodiesel industry says the tax credit is needed to revive production.

Output has almost stopped since the tax credit expired more than two months ago, according to the National Biodiesel Board, the industry’s primary trade organization. The credit is for blending biodiesel into conventional fuel.

Source: www.businessweek.com/news/2010-03-10/senate-approves-bill-that-includes-biodiesel-credit-update1-.html

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Category: Biodiesel, USA, Glycerol