Biodiesel Board Makes Case for Tax Break

John Davis

Members of the National Biodiesel Board were on Capitol Hill this week, trying to convince lawmakers to renew the biodiesel tax incentive set to expire at the end of this year.

This NBB press release says Manning Feraci, the Vice President of Federal Affairs for the board made the case before the U.S. House Committee on Small Business:

“We have clearly seen a positive impact since the biodiesel tax incentive was enacted as part of the American Jobs Creation Act of 2004,” Feraci stated. “Not only has there been an increase in jobs, biodiesel has proven to be a viable energy alternative which is environmentally friendly. Continuing this incentive will take the nation one large step closer to energy independence,” Feraci continued.

In 2007 alone, the U.S. biodiesel industry contributed over $4.1 billion to America’s GDP and provided for 21,803 jobs. The biodiesel tax incentive will foster greater growth within the industry and continue to create and promote new, “green,” jobs. By investing American money in America, this tax incentive also helps break our nation’s addiction to foreign oil.

Earlier this week at the new, green NBB building grand opening ceremony in Jefferson City, Mo., Missouri Congressman Kenny Hulshof made the case why the biodiesel industries needs the incentives. He explained that it’s the only way to level the playing field with the petroleum industry that has been the benefactor of tax breaks for decades… even as it enjoyed record profits.

You can hear Hulshof’s comments here: [audio:]