STREATOR, Ill. (DTN) -- The U.S. Senate on Tuesday, Dec. 16, passed a $41.6 billion tax break package that includes a $1-per-gallon tax credit for biodiesel and an accelerated depreciation for cellulosic biomass properties.
The bill, retroactive for 2014, passed by a vote of 76 to 16 and now goes to President Barack Obama's desk for his signature. The measure passed the House on Dec. 3. The move was cheered by pro-ethanol groups.
In addition, the bill includes tax credits for alternative-fuel vehicle refueling infrastructure and alternative-fuel mixtures.
"Clearly these tax incentives have tremendous bipartisan support when you look at ...