GOP Agrees to Exclude Biofuel Incentives from Debt-Ceiling Bill

At the eleventh hour, GOP Representatives agreed to cut some biofuel tax credits that had been taken out of the House Debt Limit Bill. With a flurry of pushback from Midwest Governors and industry leaders, the House Rules Committee yielded to demands to protect the $1 per-gallon Biodiesel and Renewable Diesel Tax Credit.

Committee members also removed language from the bill that would have limited a tax credit for carbon sequestration. The committee meeting, lasting until 2 a.m., came after the Iowa, Minnesota, Wisconsin, Nebraska and South Dakota congressional delegations raised concerns about the GOP plan to include biofuel tax credits in the debt-ceiling bill.

Read more on the just-in-time move to support biofuel policies here.