After the House and Senate passed bills
including an extension of the alternative fuel mixture and
biodiesel tax credit program, alternative fuel producers assumed that
Congress would act quickly to put the legislation into a form that could be
signed by the President. It has been more than two weeks now, however, and still Congress has not
reconciled the two bills.
House Ways and Means Committee Chairman Sander Levin (D-Mich.) is quoted by
BNA Daily Tax Reports (March 23) to say that if lawmakers must hold a formal
conference committee to settle differences on legislation extending expired and
expiring tax cuts, it could be a long time before a compromise is reached.
Levin's comments came the day after he told the House Rules Committee that
it is "uncertain" when the House will consider the $31 billion extenders package
(H.R. 4213), telling that panel the Senate-passed legislation has "many other
provisions in it we need to consider within the committee and I'm thinking we're
going to have a conference committee and if we do I think the likely result is
it will take considerable time to complete it."
According to Levin, the House and the Senate used different offsets to pay
for AFM and biodiesel tax cuts that expired December 31, 2009.
Until the bills are reconciled and signed by the President, the AFM and
biodiesel tax credit remain in abeyance and the alternative fuel industry
remains in limbo.