The US Senate has had a deal brokered to remove the last obstacle for a sweeping new energy bill.
The measures sought by Grassley would create a temporary new tax break for biodiesel, a fuel additive made from soybeans, and alter an existing tax credit that provides $2 billion in annual subsidies to the ethanol industry.
Ethanol lost direct support from the bill but will still receive funding from the general treasury.
Overall, this is a win for biodiesel … but I shudder at the politics behind it.
Posted by petergun at November 11, 2003 10:03 PM