The Senate Finance Committee voted unanimously to advance tax extenders provisions that are critical for agriculture. Included in the package was the $1 per gallon biodiesel tax credit. National Biodiesel Board’s Director of Federal Affairs, Anne Steckel says advancement through the committee is a big win for the biodiesel industry.

Steckel says they wanted a permanent extension of the biodiesel tax credit, but having a two year extension is an improvement.

Steckel says the fact the biodiesel tax credit was approved by such a large margin in the Senate Finance Committee speaks volumes about its chances for passage in the full Senate and House.

Also included in the extenders package were wind production and cellulosic biofuels tax credits, as well as Section 179 expensing and bonus depreciation measures.