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  • bluecheese4u bluecheese4u Nov 25, 2009 11:31 PM Flag

    U.S. Sen. Grassley: Renewable energy and Iowa jobs

    part two

    Q: Are steps being taken to extend the biodiesel tax credit?

    A: Last summer, I introduced the Biodiesel Tax Incentive Reform and Extension Act with Senator Maria Cantwell of Washington. Our bipartisan bill would extend the biodiesel tax credit for five years, giving the industry the tax certainty needed to expand production capacity and invest in the infrastructure necessary to continue working to displace petroleum diesel fuel with renewable, low-carbon biodiesel. Our bill also simplifies the tax credit and eliminates potential abuses of the credit.

    Congress has also been discussing tax extenders legislation that would extend tax provisions set to expire at the end of the year, including the biodiesel tax credit. Unfortunately, consideration of tax extenders legislation continues to be pushed back by congressional leaders. It has been widely reported that the Senate leaders plan to combine the non-controversial tax extenders legislation with other more controversial tax legislation. I oppose this approach because it could create a legislative deadlock. Instead, tax extenders legislation should be taken up separately and passed before year’s end to prevent the U.S. biodiesel market from coming to a grinding halt on January 1, 2010.

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    • With all good wishes to the good folks in Iowa, this is just more of the same mindless overspending of public money, and this time its by the Republican. And the Senator from Louisanna only wanted 100MM$ for her favorite cause. This industrial subsidy thing needs to stop now. It would be more effective to just have the Treasury send a package of $50 bills to each post office in Iowa, and instruct the postmaster to put one in every PO Box. Too many small business people are hurting to have individual senators going around and asking for massive handouts for one endlessly unprofitable business. This needs to STOP.

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