Another Jobs Bill for biodiesel to watch

By Nicholas Zeman | February 23, 2010
Posted March 2, 2010

On March 1, Senate Majority Leader Harry Reid (D-Nev.) and Sen. Max Baucus (D-Mont.) introduced the American Workers, State and Business Relief Act, a $150 billion piece of legislation that includes an extension of the biodiesel tax credit. It could see a vote this week, after fierce bickering has dominated proposals for job creation legislation between Democrats and Republicans on Capitol Hill.

Biodiesel producers have watched hopefully and helplessly as a tax credit "extender" has been included now in four different pieces of legislation since last fall. For the time being, the industry remains a ringside spectator.

One Biodiesel Magazine source said the fact that some players in the biodiesel industry were "double-dipping" in 2007 and 2008 by taking the $1 per gallon federal excise tax credit for methyl ester blending, then shipping the fuel to Europe to cash in on additional subsidies, has caused a "public relations issue."

"The industry is also spread out and diverse, so the question has been 'who's going to be the champion?'" the source said. "And [the biodiesel industry] isn't economically big enough for anybody to care-that's why they've had such a hard time getting this thing passed."
 
 
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