12 September 2013

Pascrell introduces bill to establish tax credit for biochemicals

Any biobased chemical sold into the food, feed or fuel markets would not qualify

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.

… Full text: biomassmagazine.com/articles/9424/pascrell-introduces-bill-to-establish-tax-credit-for-biochemicals

Tags: renewable chemical production, eligible content, ASTM D6866 standard, BioPreferred, aggregate limit, homegrown technologies, rural jobs

Source: Biomass Magazine, 2013-09-12.


Share on Twitter+1Share on FacebookShare on XingShare on LinkedInShare via email