Biodiesel tax credit to be dropped?

“Senate leaders have dropped from a jobs creation bill a U.S. tax credit for biodiesel, creating uncertainty for biodiesel makers, who say they need the incentive to keep running.

A $1-a-gallon tax credit, which expired at the end of 2009, was in the first draft of the bill. But Senate Majority Leader Harry Reid pared back the bill on Thursday, dropping the biodiesel tax credit, among other tax measures.  …

The U.S. Agriculture Department projects 11 percent of U.S. soybean oil will be turned into biodiesel this marketing year.

The American Soybean Association has said biodiesel production has essentially stopped since the tax credit expired at the end of 2009.”  “New Effort To Revive U.S. Biodiesel Credit

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