Senators Reid, Baucus Propose Biodiesel Tax Credit Extension

Bloomberg Business Week
March 01, 2010, 5:49 PM EST
By Simon Lomax and Mario Parker

March 1 (Bloomberg) -- An extension of the $1-a-gallon tax credit for biodiesel, which expired Dec. 31, is part of legislation introduced today in the U.S. Senate to aid small businesses and unemployed workers.

Legislation from Senate Majority Leader Harry Reid, a Nevada Democrat, and Senator Max Baucus, a Montana Democrat, would extend the biodiesel credit for one year. The biodiesel industry has said the tax credit is needed to revive production.

Read the full story