US senator calls for prolonging tax credits for biofuels

(SeeNews) – Dec 9, 2011 - Amy Klobuchar, US senator from the state of Minnesota, has written to Senate leaders, urging them to agree to extend tax credits for biofuels and other sources of alternative energy, the Alexandria Echo Press reported on Thursday.
In the letter, addressed to Senate majority leader Harry Reid, minority leader Mitch McConnell, Finance Committee chairman Max Baucus and ranking member Orrin Hatch, Klobuchar argues that allowing the tax credits to expire would threaten jobs and businesses in Minnesota.
In particular, Klobuchar calls for extending the duration of the Biodiesel Production Tax Credit, the Section 1603 Treasury Grant Program, the Production Tax Credit and the Advanced Energy Manufacturing Tax Credit.
Regarding the biodiesel programme, the senator notes that since it has entered in force this year, domestic production of biodiesel has increased more than twofold. Moreover, the industry has supported more than 31,000 jobs and added at least USD 3 billion (EUR 2.25bn) to the US gross domestic product.
(USD 1.0 = EUR 0.749)

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