Bilbray, Pascrell introduce Qualifying Renewable Chemical Production Tax Credit Act of 2012.

In Washington, Congressmen Brian Bilbray and Bill Pascrell have introduced H.R. 4953, the Qualifying Renewable Chemical Production Tax Credit Act of 2012.  The bill would provide tax incentives for companies that make products using renewable resources such as algae, non-harvested wheat, soybeans and switch grass.  The Paramus Post quotes Pascrell as saying, “With this bill, we have the opportunity to help foster job creation in new and innovative industries like renewable biochemicals. I believe these companies can manufacture the next generation of exports that can drive economic growth and job creation, which has got to be our top priority.”