Government | July 23, 2008 |
Massachusetts State House OKs Biofuel Tax Exemption
When the "Taxachusetts" state house blasts through a bill to cut gas taxes for biofuels, you know the time must be right to invest.
To be fair, the financial burden foisted upon taxpayers by the Bay State has decreased significantly after 16 years of Republican governors, but still, even with the state’s liberal reputation, unanimous agreement on Beacon Hill is a very rare thing indeed.
While politicians in Washington have been mulling an increase in gas taxes to help keep up income for highway road projects as Americans reduce their driving in reaction to skyrocketing gas prices, the Massachusetts state reps may have interests beyond a simple reduction in carbon footprint.
Biotechnology firms are a significant industry in the Boston area, with the governor recently handing out a one-billion dollar boost to help fund the sector. Given the recent spike in interest in bioengineered, biofuel algae, I’d guess that the desire for a clean energy future might have had some significant help in sliding through its first vote.


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