US ag industry calls on Congress to extend biodiesel tax credit

Thirteen trade groups from across the US agriculture industry, including farmers and biodiesel producers, have called on Congress to take action on bipartisan legislation to extend the biodiesel tax incentive.

Addressed to leaders of the House of Representatives and Senate, the letter states: “America’s farmers and rural communities are facing a mounting economic threat. With your leadership, Congress can help mitigate the crisis by taking immediate action on a policy that enjoys bipartisan, bicameral support. We are writing today to ask you to renew and extend the biodiesel tax incentive at the earliest opportunity.”

“We ask you to bring an extension of the biodiesel tax incentive up for immediate consideration in Congress. The biodiesel industry, and the American farmers and renderers who provide much of the industry’s feedstock, need the economic certainty it brings now,” it concludes.

In a statement released by the National Biodiesel Board, vice-president of federal affairs Kurt Kovarik added: “Income for America’s farmers is falling, and the impact is beginning to be felt in other sectors of the rural economy. Biodiesel production adds value to oil seed crops and recycled oils, providing one bright spot for the agriculture sector. Congress can take rapid action to renew the biodiesel tax incentive – a policy that enjoys broad bipartisan support – to help US biodiesel producers continue growing.”

Alongside the National Biodiesel, the groups include the Agricultural Retailers Association, American Farm Bureau Federation, American Soybean Association, CoBank, Corn Refiners Association, Farm Credit Council, National Council of Farmer Cooperatives, National Farmers Union, National Oilseed Processors Association, National Renderers Association, National Sorghum Producers, and US Canola Association.

A copy of the letter can be accessed here.