Letter calls for expansion on biodiesel tax incentive

A letter has been sent to US congress about a multi-year extension of the biodiesel tax incentive.

The letter was written by 44 members of the House of Representatives and stated that after letting the biodiesel tax incentive for 2017 expire for 2018 and beyond, “the industry is once again facing prolonged uncertainty about this policy.”

The bipartisan coalition of House members was led by representatives, Dave Loebsack, D-Iowa and Darin La Hood, R-III. They wrote that, "Biodiesel has been and continues to be a great American success story. Biodiesel production supports more than 60,000 good paying jobs in the U.S. and helps rural communities across the country build new economic opportunities.”

The members of House of Representatives also wrote that the expansion would, “deliver economic and environmental benefits to drivers, consumers, farmers and others all along the value chain."

Kurt Kovarik, vice-president of federal affairs for the National Biodiesel Board has said on the letter, “NBB and its members appreciate the leadership of Representatives Loebsack, LaHood and others from across the country who co-signed this letter."

Kovarik continued, "The letter demonstrates the strong, bipartisan support for a multi-year extension of the biodiesel tax incentive now, in order to provide biodiesel producers, blenders and retailers the opportunity to plan and expand the market for biodiesel. That expansion would deliver economic and environmental benefits to drivers, consumers, farmers and others all along the value chain.”

 

You can read the letter here. (Link)