House Leader Promises Biodiesel Tax Credit Will Pass

John Davis

“We will have enough votes” … that’s the promise from U.S. House Majority Leader Steny Hoyer when asked about the American Jobs and Closing Tax Loopholes Act, the latest piece of legislation that would reinstate the $1-a-gallon biodiesel federal tax credit.

Talk Radio News Service says the credit is part of a much larger $190 billion package that would extend unemployment benefits.

It seems only fitting that extension of the biodiesel incentive would be tied to unemployment benefits, considering the approximately 23,000 American jobs either lost or in peril since the incentive was allowed to expire at the end of 2009.

Some reports say the measure could come to a House vote tomorrow (Wednesday), but there are worries that Republicans, critical of Pres. Barack Obama’s spending so far, could kill the bill. Stay tuned…

Biodiesel, Legislation