The biodiesel industry is calling on Congress to quickly pass a measure that would renew the biodiesel tax credit. The new legislation, sponsored by Sens. Charles Grassley (R-Iowa) and Maria Cantwell (D-Wash.), and Reps. Kristi Noem (R-S.D.) and Bill Pascrell (D-N.J), includes a key reform restructuring the incentive from a blender’s credit to a producer’s credit focused on domestic production. It eliminates the existing blender’s structure, which is allowing foreign producers take advantage of the incentive. The National Biodiesel Board points out that not only will the new legislation encourage domestic production, it will save about $90 million in tax dollars. NBB wants action on it soon.
“The biodiesel industry cannot grow and support good-paying jobs without some level of predictability on tax policy, and the legislative clock is winding down,” said Anne Steckel, NBB’s vice president of federal affairs. “This tax incentive has strong bipartisan support, as demonstrated by the bills introduced today. It’s good for the economy, it’s good for the environment and it’s good for consumers. And importantly the reforms included in today’s bills will appropriately focus the incentive on U.S. production”
“We want to thank Reps. Noem and Pascrell and Sens. Grassley and Cantwell again for their leadership on this issue,” she added. “This bill, when passed into law, will go a long way toward creating biodiesel jobs across the country and reducing our dependence on foreign oil.”
Grassley’s home state Iowa Biodiesel Board and Iowa Renewable Fuels Association (IRFA) added their encouragement to pass the measure, as well as their thanks to the lawmakers involved.Read More









