Butterfield Offers Legislation to Close IRS-created Foreign-Business Tax Loophole

Congressman G. K. Butterfield this week offered bipartisan legislation aimed at eliminating a newly created tax loophole that could flood the U.S. with imported biodiesel fuel and hurt the nascent domestic industry.

“Congress created a tax incentive specifically to reduce America’s dependence on foreign sources of energy, not to subsidize foreign farmers and biodiesel producers,” Butterfield said.