Rep. Bill Pascrell Jr., D-N.J., has introduced legislation to establish a production tax credit for qualified renewable chemical production. The bill, titled the “Qualifying Renewable Production Tax Credit of 2013,” or H.R. 3084, is cosponsored by Rep. Steve Stockman, R-Texas.
A statement released by Pascrell stresses that a lack of federal support for renewable chemical production in the U.S. means that many companies are being bought by foreign entities, which then export production jobs.
Tags: renewable chemical production, eligible content, ASTM D6866 standard, BioPreferred, aggregate limit, homegrown technologies, rural jobs
Source: Biomass Magazine, 2013-09-12.