"Excludes any fuel with an acid number greater than 25 from the definition of "cellulosic biofuel" for purposes of the tax credit for alcohol used as fuel."Quality control of bio diesel fuel (BDF) on acid number is important since the number increases when the fuel itself deteriorates or BDF in production in line is not conforming. (Kyoto KEM)
However, the Senate failed to extend the biofuels tax credit amendment, which could render the quality of the fuel moot in terms of tax treatment. Usually made from byproducts of soybean processing for cattle feed, biodiesel received a $1 per gallon credit, which expired at the end of 2009. The subsidy has been in place since 2004 and was last extended in October 2008. Stay tuned. Congress will revisit the tax credit and will probably seek retroactive approval to include 2010. (PhysOrg, 1/11/2010)
Statement of President Obama on Final Passage of the Small Business Jobs Bill of 2010:
"The small business jobs bill passed today (Sept 23) will help provide loans and cut taxes for millions of small business owners without adding a dime to our nation’s deficit. After months of partisan obstruction and needless delay, I’m grateful that Democrats and a few Republicans came together to support this common-sense plan to put Americans back to work." President Obama signed the bill into law on September 27, 2010.