Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Serving: United States
Corn+Soybean Digest

Senate To Consider Biodiesel Tax Incentive

The Senate Finance Committee included a biodiesel tax incentive as part of its package of tax provisions promoting American energy security.

It's the first federal tax break ever offered to biodiesel, and will help level the playing field for the domestically produced renewable fuel, according to the National Biodiesel Board.

The tax provision will probably be included in the comprehensive energy package that the Senate was expected to begin debating at press time.

The legislation would give a 1¢ reduction in the excise tax for every 1% of biodiesel blended into standard diesel fuel — up to 20% total content. It would be in effect for three years.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish