A biodiesel tax credit bill is being reintroduced in the Senate today. The prime sponsor is Iowa Senator Chuck Grassley. He says the measure changes the tax incentive from a blenders credit to a producer’s credit.
He says his legislation will keep foreign biodiesel producers from accessing the U.S. credit.
Grassley says biodiesel benefits the U.S. economy, while protecting the environment.
Grassley’s legislation comes on the heels of the U.S. biodiesel industry challenging Argentina and Indonesia for flooding the U.S. market with their biodiesel.