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Posts Tagged ‘Timely Updates’

Source National Biodiesel Board
The U.S. House has approved H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010, by a 215 to 204 margin (the second portion of the divided question adding a provision pertaining to Medicare physician payment updates was also adopted). The legislation retroactively extends the biodiesel tax incentive through December 31, 2010.

U.S. Senate Majority Leader Harry Reid (D-NV) has indicated his desire to have the U.S. Senate consider tax extender legislation when the U.S. Senate reconvenes the week of June 7, 2010.

Both the U.S. House and U.S. Senate will be adjourned the week of May 31, 2010. NBB’s Washington, DC office will continue to provide timely updates as events warrant when Congress reconvenes the week of June 7.

Biodiesel Public Policy Benefits: The biodiesel tax incentive has helped achieve the worthwhile policy goal of increasing the production and use of biodiesel in the U.S. In 2004, when the incentive was initially enacted, the U.S. produced 25 million gallons. In 2009, that number rose to 545 million gallons. There are compelling public policy benefits associated with the enhanced production and use of biodiesel in the U.S. Among the most are:

* The Biodiesel Industry is Creating Green Jobs and Making a Positive Contribution to the Economy;
* Biodiesel is Good for the Environment, reducing carbon pollution by up to 85 percent, according to the EPA;
* Biodiesel Reduces our Dependence on Foreign Oil.

The biodiesel tax incentive has helped achieve the desired goal of increasing the domestic production and use of biodiesel, and in turn has helped the U.S. realize the energy security, economic and environmental benefits associated with displacing petroleum with domestically produced renewable fuels. These benefits, however, will be lost if Congress does not act in a timely manner to address the immediate issue facing the industry and retroactively extend the biodiesel tax incentive.

What Can You Do?

Do you think Congress should reinstate the biodiesel tax incentive and continue to realize the economic, energy secur ity and environmental benefits that come from the production and use of biodiesel?

If your answer to this common-sense question is “yes,” then you should contact your Federal Elected officials immediately about this issue. For your Congressman, click HERE and for your Senators click HERE to get the contact information to reach out to your elected officials on this important issue.

Thank you for your support of biodiesel.