A House Ways and Means subcommittee last week discussed many expired or expiring tax provisions as an initial step toward a potential tax extenders package that could come after the November elections, in a lame-duck session of Congress. The hearing gave interested lawmakers the opportunity to testify on behalf of a particular tax credit before the committee. Many think discussions of a tax extenders package could be part of a larger discussion on efforts to reform the overall tax code. The committee heard testimony on the biodiesel tax credit, characterizing it as a positive incentive that has helped the fledgling industry compete in the marketplace.
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