The Algae Biofuel Tax Credit

Dear Algae Biomass Organization Member,Today, the Senate Finance Committee approved the Family and Business Tax Cut Certainty Act of 2012.

The bill, which received bipartisan support in the Committee, would extend the tax credit for the production of cellulosic biofuel through the end of 2013.

The bill would also extend the cellulosic biofuel tax credit to algae-based fuel for the first time. These provisions are part of a larger legislative package that would extend dozens of tax credits that have either expired or are set to expire at the end of this year.

The full Senate is not expected to vote on the legislation until September at the earliest.However, the bipartisan support for the inclusion of algae-based biofuel in the Senate Finance Committee is a significant milestone that will put the algae industry in an excellent position going into the legislative debates ahead.

Mary Rosenthal
Executive Director,
Algae Biomass Organization

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