News

“Extenders Bill” Debated In Washington

Photo: clipart.com

Spencer, IA: (Apr. 03, 2014) – In Washington, the Senate Finance Committee is debating an amendment that would reinstate tax incentives for two years for biodiesel and other advanced biofuels, according to Iowa Senator Tom Harkin.

Harkin told reporters during a weekly conference call that the original proposal by Committee Chair Ron Wyden did NOT include a renewal of the biodiesel tax credit but after conferring with his staff, he corrected himself.

The biofuels incentives include:
• The $1 per gallon tax credit for biodiesel and renewable diesel.
• The second-generation biofuel producer credit, which allows $1.01 per gallon credit for qualified second-generation biofuel production, including cellulosic biofuel.
The senate will also consider extending the special depreciation allowance for second-generation biofuel plant property – considered essential to the development of the advanced biofuels industry – according to Harkin.

Harkin told reporters that the Finance Committee is debating 92 amendments to the so-called “Extenders Bill.” He said there appears to be strong bipartisan support for the bill.
Action on a final deal with the House, however, is not expected until after the November elections.

Local Headlines

in Local

Pheasant Hunting Season

Fresh
dnr1240

Today marks the start of the pheasant hunting season in Iowa...

in Local

Clay County Deputy Retiring

Fresh
claycountysheriff

A Clay County Deputy is retiring...

in Local

Building Iowa’s Future Event Held in Spencer

build

A sizable portion of the Iowa GOP statewide ticket was on hand in Spencer on Friday...

in Local

Storm Lake Counterfeit Conviction

courtnews1240

Yoirland Rojas has been convicted of making and using counterfeit credit cards...

in Local

Echo Plus Merging With Hope Haven

hopehaven

Echo Plus of Spirit Lake and Estherville is merging into the Hope Haven organization...