Congress Examining New Trade Bill, Tax Incentives for Biodiesel
- Before moving forward on Trade Promotion Authority legislation, the new Senate Finance Chairman wants to talk with his Democratic colleagues.
Oregon Democrat Ron Wyden wants to address how the global marketplace has changed since the last TPA bill was approved in 2002 and factor that into any legislative mechanism. According to Wyden, his colleagues want a chance to talks about these issues and examine the changes in global commerce.
Wyden is advocating a more measured approach and says he will give his colleagues a chance to talk about the issues, talk with the administration and go from there.
- Washington Senator Maria Cantwell and Iowa Senator Chuck Grassley have introduced bipartisan legislation to reinstate a tax incentive for the production of domestic biodiesel.
They say the incentive will help spur job creation and boost the nation’s supply of cleaner alternatives to imported fossil fuels.
Senate Bill 2021, also known as the Biodiesel Tax Incentive Reform and Extension Act of 2014, would reform and extend the dollar-per-gallon tax credit for biodiesel producers through 2017.