Jobs Bill, Biodiesel Tax Measure Delayed

Jobs Bill, Biodiesel Tax Measure Delayed

After talk that measure would be taken up by the House last Friday, not it's this week.

There was plenty of hope out there last week that the U.S. House would take up the jobs bill that also includes a retroactive renewal of the biodiesel tax incentive. It hasn't worked out that way.

Turns out that the measure could be on the House floor Tuesday. The measure didn't move to the floor for a vote last week after it was pushed to this week by House Speaker Nancy Pelosi. She made the move after the rise of opposition for other provisions in the bill, which is a big measure that includes not only that biodiesel tax incentive but also compensation for hedge fund managers among other items.

The biodiesel industry is already grinding to a halt over the lack of support as fuel blenders stop mixing the biofuel. The industry, which provides more than 20,000 jobs has seen those numbers cut in half since the incentive went away at the end of 2009. The measure in the new bill would include a retroactive restart for the incentive and grant it through 2010.

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