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"Fiscal Cliff" deal includes four tax provisions that directly impact biofuels

By Jim Lane
BioFuelsDigest

Three key tax credits were extended for cellulosic biofuels, biodiesel and renewable diesel, and the playing field was leveled for algae.

"Fiscal Cliff" deal includes four tax provisions that directly impact biofuels

Photo by USDAgov on Flickr Creative Commons

Three key tax credits were extended for cellulosic biofuels, biodiesel and renewable diesel, and the playing field was leveled for algae.

 In Washington, the US House of Representatives passed, by a vote of 257-167, a bill to avert a set of automatic tax increases that would have, according to economist consensus, sent the US spiraling back into recession. The bill previously passed in the US Senate 89-8 and is expected to be quickly signed by President Obama, who praised the deal.

 Four tax provisions were in the bill that directly impact biofuels.

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