Nearly four dozen members of Congress sent a letter this week asking House leadership to adopt a multi-year extension of the biodiesel tax incentive as soon as possible.
The National Biodiesel Board (NBB) thanked the 44 House of Representatives members, led by Reps. Dave Loebsack (D-IA) and Darin LaHood (R-IL) for sending the letter to House Speaker Nancy Pelosi (D-CA), Republican Leader Kevin McCarthy (R-CA), Majority Leader Steny Hoyer (D-MD), and Republican Whip Steve Scalise (R-LA).
“Biodiesel and renewable diesel producers testified before the House Ways & Means Committee last spring and worked with Congress all year to make a case for resolving the off-again, on-again nature of tax incentive eligibility. A multi-year extension of biodiesel and renewable diesel incentives will provide the industry the certainty it needs to continue to generate economic and environmental public benefits,” the letter states.
“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,” said Kurt Kovarik, NBB’s Vice President of Federal Affairs. “That expansion would deliver economic and environmental benefits to drivers, consumers, farmers and others all along the value chain.”
The biodiesel tax incentive was retroactively renewed for 2017 in February of last year but left expired for 2018 and beyond.