No renewal of biodiesel tax credit in omnibus spending bill

By The National Biodiesel Board | March 22, 2018

Congress is expected to pass an omnibus spending bill March 22 to fund the U.S. government, which does not include a reinstatement of the biodiesel tax credit. 

“The National Biodiesel Board is again disappointed that Congress has failed to provide pro-growth tax certainty for a domestic energy industry that has broad, bipartisan support,” said Kurt Kovarik, NBB vice president of federal affairs. “The lack of urgency by Congress to extend this expired tax credit continues to frustrate the producers, blenders and marketers of biodiesel. We will work to educate members of the economic and environmental benefits of increased use of biodiesel, so that Congress is poised to drive investments in this American energy industry.”

In February, Congress passed a retroactive extension of the biodiesel tax incentive for 2017 only. But producers continue to operate in 2018 without a tax credit, which is forcing biodiesel producers nationwide to carry the risk of the uncertainty caused by the lack of the tax credit. For some small biodiesel producers, that can be the difference between keeping the lights on and shutting down. 

NBB has engaged in aggressive legislative outreach on this issue, taking meetings with elected officials each week on Capitol Hill, participating in a recent Congressional hearing on the issue and sending multiple letters to Congressional leaders making the case for renewal of the biodiesel tax incentive.

 

 
 
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