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Congress loves biofuels forever. Will biodiesel and ethanol credits become permanent?

We have already reported that this year's Congress will pursue energy issues individually, and one of the most important issues up for debate is biofuels. Reps. Earl Pomeroy and Kenny Hulshof have introduced the Renewable Fuels and Energy Independence Promotion Act of 2007 which proposes to permanently extend tax breaks for ethanol and biodiesel production. The act moves to permanently extend the current 51 cent-per-gallon ethanol tax credit and a 10 cent-per-gallon small producer ethanol credit which are both currently set to end in 2010. The ... Read more →

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