Senate Delays 2010 Biodiesel Tax Credit Extension Vote

The New York Times report issued on December 18th does more than suggest a delay of the Senate taking on the tax credit extension, tabling the matter until some time next year.

If not approved this year, the earliest the Senate can calendar this item would be the middle of January.

The full article can be found here.

It remains to be seen how a credit delay will affect the industry. The portents of doom and gloom abound for larger producers according to the NBB.

The truth remains to be seen.

Make it a better place,

Todd

House passes 2010 biodiesel tax credit. What now?

I believe most of you reading this are already aware that the House passed H.R. 4213, a tax extension package that included a 1 year extension of the biodiesel tax credit for blenders.

It is now a near certainty that S.1589 and H.R. 4070 will not be voted on this year, which is unfortunate since these legislative initiatives included a 5-year producer credit mandate which would be a tremendous positive for producers and an aggressive move towards stabilizing the industry.

Although H.R. 4213 easily passed the House (with a vote of 241 yeas to 181 nays), it is still possible that the legislation will not pass the Senate this year. As of today, the current Senate calendar is only updated to the 14th of December. With the health bill the current top priority, it is quite possible that the extension provisions will not be heard and addressed until early January 2010.

The bill has been referred to the Senate Committee on Finance, where it will ostensibly determined what the net economic effect of the bill passage would be.

Make it a better place,

Todd

Promethean wins ‘green’ award

Promethean joined in excess of 250 California businesses and nonprofits recognized for their “innovative, environmentally friendly programs and policies” named as recipients of the 2009 Waste Reduction Awards Program, also known as the WRAP Award.

The California Integrated Waste Management Board issued news release stated that, “This year’s honorees have diverted more than 2 million tons of materials annually from local landfills… and their… efforts have improved their balance sheets through savings of $150 million in operating costs.”

Other prominent recipients include Mercedes Benz USA, BAE Systems Controls, Cardinal Health, Robert Bosch, and Toyota Motor Sales.

Matt Wrye writes for The Bizz blog. His post can be found here: