Tax credit scheduled for a vote this week

By Ron Kotrba | May 19, 2010
Posted May 24, 2010

On May 20, the House Ways and Means Committee published its "Amendments to the Senate Amendment to H.R. 4213," The American Jobs and Closing Tax Loopholes Act of 2010, in which the biodiesel industry's much-needed extension of the $1 per gallon tax credit resides.

This brings the vote and passing of the credit before the Memorial Day target within the realm of possibility.

The language extends the biodiesel tax credit to Dec. 31, and offers retroactive payment to blended biodiesel back to Jan. 1, 2010.

The full House is expected to vote on the measure early this week, with a Senate vote later in the week.

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