It won’t be long before Senators and Representatives go back home to do what they seem to do best, or at least, the most: work on getting re-elected. But before they head out of D.C. for the break (right now, scheduled for October 8) before the November elections, the National Biodiesel Board (NBB) and the Advanced Biofuels Association (AFBA) are asking them to do some real work and extend the biodiesel, renewable diesel and alternative fuels tax credits, according to this article in Biodiesel Magazine:
In a letter addressed to Senate Majority Leader Harry Reid, D-Nev., Senate Committee on Finance Chairman Max Baucus, D-Mont., Republican Leader Mitch McConnell, R-Ky., and ranking member of the Committee on Finance Sen. Charles Grassley, R-Iowa, the two advanced biofuel groups noted the “urgent” and “noncontroversial” need to reinstate the incentives. The letter states, “We respectively ask that you expeditiously act to retroactively extend the biodiesel, renewable diesel and alternate fuel tax incentive through 2011 prior to adjourning for November elections.”
“Before the Senate goes home to campaign,” Manning Feraci, vice president of federal affairs for the NBB said, “it should do the right thing and seamlessly reinstate the biodiesel tax incentive.” The joint-effort between the NBB and the ABFA is relatively new, but Feraci noted that both “share the opinion that Congress should pass an extension of these biofuel incentives before they adjourn for the year.” Passing a retroactive tax incentive would not only restore several jobs lost from the expiration of the tax incentive, but also allow entrepreneurs and producers the ability to access capital needed to produce advanced biofuels, the letter also stated.
ABFA officials urged Congress to act soon and not put the country’s energy and economic security on hold.