Senate Committee Approves Biodiesel Tax Credit Extension

The Senate Finance Committee passed a tax extenders package last week by a 19-5 vote that included a 2-year extension of the biodiesel blender’s credit. The $1.00 per gallon credit would be retroactive to Dec. 31, 2011, when it last expired. The package also included a two-year extension of the 30 percent tax credit for alternative fuel refueling property, and a one-year extension of the cellulosic biofuel producers tax credit. 

The tax extender package, known as the Family and Business Tax Cut Certainty Act, is expected to move to the Senate floor in September.

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This article originally ran in NATSO News Weekly (NNW), NATSO's member only weekly electronic newsletter. NNW is packed with the latest updates on government and business issues affecting the truckstop and travel plaza industry.

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