Lincoln submits biodiesel amendment

By Luke Geiver | July 13, 2010
Posted Aug. 3, 2010

The most recent legislative vehicle that could bring the biodiesel tax credit back to life is once again stalled at a crossroads in Congress. This time, the tax credit remains in flux as Sen. Mitch McConnell, R-Ky., and Sen. Harry Reid, D-Nev., struggle to agree on the Small Business Bill and the number of amendments the Senate will vote on in the bill. During their first meeting, Reid offered three amendments while McConnell offered eight. Both Senators however, proposed to include an amendment for the biodiesel tax credit extension, but have not yet agreed on the total number of amendments.

The amendment, proposed by Sen. Blanche Lincoln, D-Ark., would retroactively extend the tax credit through December 31, 2010. Lincoln's press office confirmed that the amendment was offered by both parties, but said the amendment and the bill are still in limbo. At press time, Reid has said that the two parties, "are pretty close to an agreement," and that the bill could reach the Senate floor for a vote before the August recess. If the Senate did vote before the recess, the House would most likely vote on the bill after the recess, sometime in September. Sen. Thomas Carper, D-Del., cosponsored Lincoln's amendment.

Earlier in the month Reid also unveiled the highly anticipated energy legislation. Many of us want a comprehensive bill that creates jobs, breaks our addiction to foreign oil and curbs pollution, Reid said about the bill. "We need to lessen our dependence on foreign oil," he said. The energy bill however, did not include any provisions that would revamp the biodiesel industry, and the tax extension was absent. A bill that was formed to give up to $30 billion to small banks to help those banks lend to small businesses, the Small Business Bill, is instead the piece of legislation the majority leader has attached the tax credit extension to and now, once again, with support from both parties, the industry has to wait on Washington.
 
 
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