Houston TX Rep. Gene Green (TX-29) urged the Chairman of the Committee on Ways & Means Rep. Sander Levin (MI-12) to include the extension of the biodiesel and renewable diesel excise tax credits in the final tax extenders package.
In a bipartisan letter sent May 5 2010 Rep. Green asked for the credit an offset of excise tax liability paid by retail sellers of gasoline and diesel fuel and included in both the House and Senate versions of the bill to ensure that biodiesel prices remain competitive with conventional diesel.
The letter was co-signed by Rep. Al Green (TX-09) Rep. Charlie Gonzalez (TX-20) Rep. Ciro Rodriguez (TX-23) Rep. Henry Cuellar (TX-28) Rep. Chet Edwards (TX-17) Rep. Silvestre Reyes (TX-16) Rep. Solomon Ortiz (TX-27) and Rep. Joe Barton (TX-06).
This tax credit will not only save jobs in our district but across the country" Rep. Green said. In our area alone Green Hunter Organic Fuels and Green Earth Fuels of Houston have been forced to close."
According to the National Biodiesel Board the nation will lose 23000 jobs in addition to the 29000 jobs lost in 2009 if the tax credit is not extended. As a critical component of the nations green economy the biodiesel industry supports over 50000 jobs with Texas being the number one biodiesel producing state in the nation with a production capacity estimated at 726 million gallons a year.
With tax revenue of $866 million and $4.2 billion added to the nations Gross Domestic Product in 2008 we literally cant afford to let the industry suffer more than it already has" Rep. Green continued. This growing green industry reduces our dependence on foreign oil and helps to reduce carbon emissions."
The extension of the excise tax credits has received bipartisan support in the House and Senate and is supported by the National Biodiesel Board and the Biodiesel Coalition of Texas.
Houston TX Rep. Gene Green (TX-29) urged the Chairman of the Committee on Ways & Means Rep. Sander Levin (MI-12) to include the extension of the biodiesel and renewable diesel excise tax credits in the final tax extenders package.
In a bipartisan letter sent May 5 2010 Rep. Green asked for the credit an offset of excise tax liability paid by retail sellers of gasoline and diesel fuel and included in both the House and Senate versions of the bill to ensure that biodiesel prices remain competitive with conventional diesel.
The letter was co-signed by Rep. Al Green (TX-09) Rep. Charlie Gonzalez (TX-20) Rep. Ciro Rodriguez (TX-23) Rep. Henry Cuellar (TX-28) Rep. Chet Edwards (TX-17) Rep. Silvestre Reyes (TX-16) Rep. Solomon Ortiz (TX-27) and Rep. Joe Barton (TX-06).
This tax credit will not only save jobs in our district but across the country" Rep. Green said. In our area alone Green Hunter Organic Fuels and Green Earth Fuels of Houston have been forced to close."
According to the National Biodiesel Board the nation will lose 23000 jobs in addition to the 29000 jobs lost in 2009 if the tax credit is not extended. As a critical component of the nations green economy the biodiesel industry supports over 50000 jobs with Texas being the number one biodiesel producing state in the nation with a production capacity estimated at 726 million gallons a year.
With tax revenue of $866 million and $4.2 billion added to the nations Gross Domestic Product in 2008 we literally cant afford to let the industry suffer more than it already has" Rep. Green continued. This growing green industry reduces our dependence on foreign oil and helps to reduce carbon emissions."
The extension of the excise tax credits has received bipartisan support in the House and Senate and is supported by the National Biodiesel Board and the Biodiesel Coalition of Texas.
