The National Biodiesel Board is grateful that several representatives in the House introduced legislation that would provide a two-year extension of the biodiesel and renewable diesel tax incentive.
The NBB says the Biodiesel Tax Credit Extension Act will provide certainty for 2018 and 2019 to biodiesel producers and their employees.
“NBB and its members are grateful to the representatives for their leadership to extend the expired biodiesel tax incentive,” says Kurt Kovarik, Vice President of Federal Affairs.
“We continue to appreciate the strong bipartisan support in Congress for biodiesel and renewable diesel industry workers.”
He says biodiesel companies and their workers are facing a lot of uncertainty in their future because the biodiesel tax incentive has been expired for 15 months.
“The economic pressure is building and it’s threatening the future of the industry,” he says.
“It’s putting good-paying, blue-collar jobs and production of a low-carbon, domestic fuel at stake. It’s also adding economic pressure to farmers who’ve already been hit hard from both sides by unfavorable weather and trade disputes.”
Kovarik adds that this bill will provide the agricultural economy some certainty and relief for 2018 and 2019.