Triple Win for Biofuels on Capitol Hill; $$$ for Military Biofuels; Tax Extenders Package; Algae wins tax credit parity

biofuelsdigest.com - Jim Lane - August 3rd, 2012

In Washington, the US Senate Committee on Appropriations and the Senate Finance Committee handed the advanced biofuels industry three of its most significant wins on Capitol Hill this year.

The Senate Appropriations Committee, in approving the 2013 Defense budget, appropriated $70M for the Navy biofuels program, and added $100 million to the Defense Production Act “to build production capacity for critical defense-related initiatives,” which reflects potential funding for the Navy’s proposed military biofuels program.

The House bill did not fund the $70 million requested by the Administration for the Navy biofuels project, but did add an appropriation $50M in general funds for defense-related initiatives. The differences between the House and Senate versions will be worked out in conference.

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