Update: Senate to vote 'yes' on tax bill

By Luke Geiver | November 17, 2010
Posted Dec. 15, 2010

Any questions on whether the biodiesel tax credit is in the proposed tax bill to extend Bush-era tax cuts and continue unemployment benefits for another year have already been answered-it is in.

Text of the bill has been released for nearly a week, and it includes language that extends the $1 per gallon blenders tax credit for biodiesel through 2011. The credit has also been made retroactive, providing the incentive for all biodiesel blended in 2010.

The bill, H.R. 4853, or the Middle Tax Cut Relief Bill, was officially released on Thursday, Dec. 7, by Senator Harry Reid, D.-Nev. It was expected to go through cloture on Monday, Dec. 13, allowing members of Congress a maximum period of 30 hours for debate, during which no amendments may be added. A vote on the bill was expected to occur sometime between late Wednesday and early Thursday.

After a Monday, Dec. 13, test vote in the Senate revealed an overwhelming majority were in favor of the Middle Tax Cut Relief Bill, the biodiesel tax credit restart is becoming a very real possibility. For two days several Senators on both sides issued letters and statements calling for changes to the bill based on the highly debated estate tax measure, but, in spite of those efforts, on Wednesday, Dec. 15, the Senate is expected to vote in favor of the bill, paving the way for a House vote this week. While there are also detractors of the bill in the House as well, all signs show the bill will reach the President's desk before year's end.
 
 
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