Senate Votes Down Biodiesel Tax Credit Extension

Law360, New York (September 17, 2010, 4:03 PM EDT) -- The U.S. Senate has rejected an amendment to a small-business bill that would have extended a popular tax credit for biodiesel fuel makers, drawing ire from lawmakers and others who supported the measure.

Sen. Chuck Grassley, R-Iowa, quickly condemned Thursday's 41-58 vote against his amendment, even as the Senate approved the full small-business bill itself.

As many as 20,000 people have been laid off in the biodiesel industry across the U.S., in large part because of the lapse in the biodiesel production tax credit, according to...
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