Congress urged to provide investment tax credits for advanced biofuels

06/22/2010 |

The advanced-biofuels industry is asking Congress for investment tax credits similar to those for solar and wind power, said Michael McAdams, chief lobbyist at the Advanced Biofuels Association. Sen. Bill Nelson, D-Fla., has written a bill that would provide tax incentives for investors in advanced biofuels and make available a 30% investment tax break for qualifying advanced-biofuel production. Nearly 40 groups, including the Renewable Fuels Association, support the proposal.

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