Deal on Biodiesel, Beer Credits Hinges on Broad Tax Package
- Lawmakers seek to tether tax plan to government funding bill
- White House lobbying against renewing wind and solar credits
Congressional leaders are close to a deal that would extend a slew of expired incentives for biodiesel, alcoholic beverages and short-line railroads, though it could depend on completing a broader tax compromise in time to add the provisions to a must-pass spending bill.
Top House and Senate officials negotiating through the weekend tentatively agreed to renew those “tax extenders,” including a $1-per-gallon credit for biodiesel typically made from soybeans and used cooking oil, according to three people familiar with the matter. Under the working compromise, the credits -- many of which expired almost two years ago -- would be retroactively renewed and extended through the end of 2020, said the people, who asked not to be named discussing private deliberations.