Great news for biodiesel producers . . . The House of Representatives today passed the American Jobs and Closing Tax Loopholes Act. Passage retroactively extends the biodiesel tax incentive through December 31, 2010.
The National Biodiesel Board (NBB) reported that since the incentive has lapsed, the biodiesel industry has lost thousands of jobs and has closed plants. The tax incentive makes biodiesel price competitive with petroleum-based diesel fuel. The petroleum industry has received billions of dollars in taxpayer support over the decades, reports NBB.
Have a good Memorial Day weekend and please remember and honor the men and women who have fought and have died for our freedom.