Senate Finance Committee to look at extending biofuel tax breaks

In Washington, the Senate’s finance committee will take a look at the cellulosic biofuels and biodiesel tax breaks on Thursday as part of the “tax extenders package”. The 50% depreciation tax reduction on cellulosic biofuels would be reinstated and extended while the $1.01 per gallon production tax credit would be retroacted and extended through 2015.