US Congress introduces multi-year extension of biodiesel tax incentive
The National Biodiesel Board (NBB) and its members have thanked certain members of Congress for introducing a multi-year extension of the biodiesel tax incentive.
If passed, the credit would be available to biodiesel blenders through 2022. It will help to expand markets and support expansion of the production of biodiesel and renewable diesel in the US.
"Today’s announced deal provides the policy certainty that the biodiesel industry has been seeking to support investments and continued growth of production,” commented Kurt Kovarik, vice-president of federal affairs at NBB. “NBB and its members are grateful that Congressional leaders are providing a positive signal before the year’s end.
"On behalf of NBB members, I’d like to thank Senator Chuck Grassley and Representative Abby Finkenauer as well as many other senators and representatives from both sides of the aisle for their strong and consistent championship of our industry.
“I’d also like to thank the producers, soybean farmers, heating oil distributors, blenders, and others who have worked tirelessly to advocate for extension of the biodiesel tax credit. We will continue to work with our champions to get this legislation across the finish line before the end of the year."
If passed, the credit would be available to biodiesel blenders through 2022. It will help to expand markets and support expansion of the production of biodiesel and renewable diesel in the US.
"Today’s announced deal provides the policy certainty that the biodiesel industry has been seeking to support investments and continued growth of production,” commented Kurt Kovarik, vice-president of federal affairs at NBB. “NBB and its members are grateful that Congressional leaders are providing a positive signal before the year’s end.
"On behalf of NBB members, I’d like to thank Senator Chuck Grassley and Representative Abby Finkenauer as well as many other senators and representatives from both sides of the aisle for their strong and consistent championship of our industry.
“I’d also like to thank the producers, soybean farmers, heating oil distributors, blenders, and others who have worked tirelessly to advocate for extension of the biodiesel tax credit. We will continue to work with our champions to get this legislation across the finish line before the end of the year."
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