Senate extends tax credit for biodiesel industry in 2010 [View All]

[wpsedgwick]

Source: Green Technology Daily

The US Senate approved a massive job-creation bill that restores a $1 a gallon biodiesel tax credit for 2010 that had expired at the end of last year.

Congress had been extending the tax credit at the end of each year but the Senate was embroiled with contentious health care reform in December and did not address the issue.

Without the tax credit, biodiesel is not price competitive with petroleum diesel and the $4.3 billion industry is in dire financial shape, according to the National Biodiesel Board (NBB), a trade group.



Read more: http://www.greentechnologydaily.com/energy/660-senate-extends-tax-credit-for-biodiesel-industry-in-2010