Many are watching and waiting impatiently for an extension of the biodiesel tax credit. Iowa Senator Chuck Grassley recently told AgriTalk host Chip Flory stakeholders are frustrated that the extension wasn’t included in the shutdown-ending appropriations bill earlier this month. Still, there are three known chances to get the extension passed.
“The general agreement that we have is that we need to extend not only the biodiesel tax credit, but about 25 or other sunsetting tax provisions,” Grassley said. “I think there's still momentum to get that done, but what piece of legislation do you put it on?”
Why can’t the Senate just vote on the extension? The rules of the Senate allow all tax bills to be amended which would likely keep the extension from passing out of the chamber, Grassley explained.
“[Because of the rules] you never get to what we call a clean bill of just the extensions of the 25 tax credits including biodiesel,” he said. “Until we get to regular appropriation bills in the summer.”
Additionally, Grassley added that there’s a consensus among lawmakers that the Senate should pass more incentives for retirement savings, the tax credit could be added there or in a bill to extend the authority of the federal government to borrow money.