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IA biodiesel company lobbies for tax credit extension
Iowa-based biodiesel supplier Renewable Energy Group (REG) is asking Congress to take action to extend the biodiesel tax credit. That according to a story on feedstuffs.com.
In a letter to Representative Sander Levin, chair of the House Ways and Means Committee, REG says that it—and its partner plants—have laid off more than 45 percent of its Iowa employees as a direct result of the loss of the tax credit. It says REG Ralston and REG Newton manufacturing facilities have been idled and their employees laid off, and that additional jobs are at risk at plants in Houston, Texas and Danville, Illinois.
A bill extending the biodiesel tax credit was passed by the Senate March 10th and is currently awaiting action of the House Ways and Means Committee. REG says the tax credit continues to become “mired down, stalled and delayed” due to what it calls “its collision with other significant priorities and restrictions within the legislative calendar.” The next opportunity for action will be when Congress returns to Washington the week of April 12th.
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