Well, it’s that time of the year again, and biofuel manufactures are nervous.
The U.S. Congress is busy voting on legislation that will extend such things as tax incentives to assist them. This is a yearly ritual, and benefactors of these incentives usually have to sweat it out. Why? Because if the vote is not taken before December 30 of a given year, then the authority for the incentives evaporates, so to speak.
The legislation to be voted on in the House includes such tax incentives as:
A one year extension of the $1 per gallon production tax credit for biodiesel.
A $1 per gallon tax credit for diesel fuel created from biomass.
A 10-cents per gallon small agri-biodiesel producer’s tax credit.
A one year extension of the 50 cents per gallon producer’s tax credit for natural gas and propane used as transportation fuel.
The House of Representatives is getting ready to vote on the legislation. But things appears bottled up in the Senate where Senators are still debating the healthcare bill.
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