The Hagstrom Report

Agriculture News As It Happens


Senate votes down biodiesel tax incentive

The National Biodiesel Board expressed disappointment today that the Senate voted down two amendments that would have extended the biodiesel tax incentive through the end of the year.

The separate amendments were offered by Senate Agriculture Committee Chairman Debbie Stabenow, D-Mich., and Senate Agriculture ranking member Pat Roberts, R-Kan.

“This is another missed opportunity for Congress to do something to boost the economy,” said Anne Steckel, NBB’s vice president of federal affairs.

“We’re talking about thousands of jobs across the country that are affected by this, and the very real possibility that biodiesel plants will go out of business,” Steckel said. “It's also a missed opportunity for Congress to do something about these oil price spikes by diversifying our fuel supplies and reducing our exposure to the global petroleum markets.”