The omnibus spending bill agreed to in Congress to fund the government leaves the biodiesel industry in the lurch again by failing to include a reinstatement of the biodiesel tax credit.
“The lack of urgency by Congress to extend this expired tax credit continues to frustrate the producers, blenders and marketers of biodiesel,” said Kurt Kovarik, vice president of federal affairs for the National Biodiesel Board (NBB). “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.”
Last month, Congress passed a retroactive extension of the biodiesel tax incentive for 2017 only. But producers continue to operate in 2018 without a tax credit, as they have for the past several years, waiting for a retroactive extension. NBB has engaged in aggressive legislative outreach on this issue, 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 so the industry can operate with more certainty going forward.