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ASA Looks for Quick Final Agreement

HR 4213 still has to be worked out between House and Senate.

Compiled by staff

Published: Mar 11, 2010

The American Soybean Association is applauding Senate passage of the American Workers, State and Business Relief Act, also known as the Tax Extenders Act, which includes a retroactive extension of the biodiesel tax credit. But there are differences between the Senate-passed measure and the version approved by the House that must be worked out. ASA is urging Congress to work quickly to seek agreement on a final bill so the extension of the tax incentive is enacted as soon as possible.

The December 31, 2009 expiration of the credit has essentially caused the production and use of biodiesel to cease in the U.S., placing thousands of jobs supported by the domestic biodiesel industry in jeopardy.

ASA notes biodiesel has provided a significant market opportunity for U.S. soybean farmers, as well as jobs and economic development for rural communities, and helps reduce the nation’s dependence on imported petroleum.

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Tagged: biodiesel, soybean, Extension, ASA, soybean association

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ASA Looks for Quick Final Agreement

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