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

12 hours ago in Local

Legal Malpractice Ruling

courtnews1240

Des Moines, IA (AP) — An Emmetsburg man who pleaded guilty to soliciting a minor for sex but later had…

12 hours ago in Local

Interstate 90 Crash

Minnesota State Patrol

A Wyoming woman was injured in a single vehicle accident, on Interstate 90.

12 hours ago in Local

O’Brien County Accident

Car Accident 1280

A Sheldon man receives injuries in a single vehicle rollover.

12 hours ago in Local

Tea Poisoner To Jail

jail

A Worthington woman will spend time in jail after pleading guilty to a felony assault.

14 hours ago in Local

Doon Drug Arrest

News Arrest1240 1

Two are arrested after a traffic stop in Doon.