BLACK LIQUOR TAX CREDIT
Federal tax credit promoting the usage of biofuels but had the opposite outcome. The forest-products industry coined the phrase, describing an abusive subsidy scheme within the industry. A byproduct of making wood pulp, black liquor has been used as a fuel. The US government came up with a tax credit, part of the Transportation and Ethanol Bill, encouraging firms to use biofuels by mixing those with fossil fuels in 2005. The bill was extended in 2007 that created a loophole where companies started adding diesel fuel to black liquor to qualify for tax credits.
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| Time | Country | Indices | Period |
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| 07:00 | Leading Indicators | May | |
| 10:00 | Ifo Business Climate Index | Jul | |
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