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Biodiesel tax credit rolls on

Despite a number of attempts to pass a tax extenders package, the US Senate was unable to get the 60 votes needed in order to continue.

The bill included extending the $1 (€0.8) -a-gallon tax credit for biodiesel and the future of the tax credit for biodiesel production now appears uncertain.

According to the head of the National Biodiesel Board (NBB), the industry for biodiesel will 'suffocate' if the tax credit is not extended.

The main reason for this high level of opposition was the federal deficit. The majority of Senators claimed that a significant amount of the cost failed to be balanced with cuts and savings and would therefore contribute further to the US government’s debt.

However, tax credit supporters will attempt to get the extension later on this month when it is included in an energy bill.




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