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Dear Biodiesel Supporter: It is with great pleasure that I share this news with you. Moments ago the Senate passed, 69-17, a bill containing the biodiesel tax incentive we have worked so hard for during the last several years. The incentive went through as part of the bill known as the “JOBS Bill” in Congress. The last step is for the President to sign the bill, which we expect he will do within 10 days.
The incentive is a federal excise tax credit in the amount of one penny per percentage of biodiesel blended with petroleum diesel. All biodiesel consumers will benefit from this legislation, including those in tax exempt markets, like school districts.
Thank you for your work in making this happen. A special thanks to the American Soybean Association, Gordley Associates, the biodiesel industry, and stakeholders everywhere. All the calls, e-mails and other communications to Members of Congress from biodiesel stakeholders like you truly made a difference.
Sincerely,
Joe Jobe
NBB Executive Director |
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