Senate Defeats Biodiesel Incentive

Last week the Senate defeated Sen. Charles Grassley’s attempt to retroactively revive the credit as part of a small business bill by a vote of 41-58, which was far short of the 67 votes needed. The Des Moines Register reports that Senate Finance Committee, Max Baucus (D-MT) called Grassley’s motion and another GOP proposal “as stunts meant to score political points.”

Grassley spokeswoman Beth Pellett Levine said he, “has been stonewalled by the Democratic leadership for nearly a year now. There isn’t anybody who would blame him for doing everything possible to pass the noncontroversial biodiesel tax credit.”

The industry is now looking toward having the subsidy included in legislation that would extend a number of tax provisions.

The American Soybean Association was also critical of the Senate’s action.

“ASA is severely disappointed in the failure of the Senate to extend the biodiesel tax credit,” said Rob Joslin, ASA president. ◆