A bipartisan bill to extend the $1-per-gallon biodiesel tax credit was introduced to the House of Representatives on July 18. The bill was sponsored by representative Mike Carey of Ohio, along with representatives Ann Kuster and Claudia Tenney. The measure was referred to the House Committee on Ways and Means.

Postponing the move from the blenders tax credit (BTC) to the Clean Fuels Production Credit (CFPC) could provide a measure of relief for the industry. Many market participants have previously speculated this would be an impossible task, given that a deeply divided Congress would have to come together and pass the resolution. The legislation will test this view.

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