In Washington, the US House of Representatives passed H.R. 4168, the Algae-based Renewable Fuel Promotion Act, which had been driven towards passage by a bi-partisan group led by Reps. Harry Teague (D-NM), Mary Bono Mack (R-CA), Dave Reichert (R-WA) and Brian Bilbray (R-CA).
The bill will give algae-based biofuel tax parity with cellulosic biofuels with respect to a $1.01 per gallon production tax credit and a 50 percent bonus depreciation for biofuel plant property.
"Today, the House sent an unmistakable message of bipartisan support to the hundreds of companies, scientists, entrepreneurs and government agencies working to accelerate the development of algae-based fuels, which will create jobs, decrease emissions and reduce our nation's dependence on imported fossil fuels," said Mary Rosenthal, Executive Director of ABO.
However, as of press time, the Senate had not moved forward with the bill, which backers are attempting to pass before the Senate breaks for its pre-election recess. Senator Tom Coburn of Oklahoma had placed a procedural hold on the attempt to pass the bill by unanimous consent, with backers reporting that he had raised concerns about increased subsidies for renewable fuels as well as the prospects for algae as a fuel feedstock.