WASHINGTON--(BUSINESS WIRE)--As Congress takes action on critical tax incentive packages, the leading advanced biofuel trade associations reemphasized the importance of advanced biofuels as promising opportunities for the United States to reduce its reliance on oil and create green jobs. Sustained and diverse federal programs, including tax incentives, can help producers secure financing for construction of projects. The Biotechnology Industry Organization (BIO), Advanced BioFuels Association (ABFA) and Algal Biomass Organization (ABO) today thanked Ways and Means Committee Chairman Sander Levin (D-Mich.) for introducing legislation that would make algae and other second-generation biofuels eligible for the cellulosic biofuels production tax credit and create an optional investment tax credit. The groups released the following joint statement:
