Tennessee congresswoman introduces bill to extend biodiesel blenders credit

September 19, 2016 |

In Virginia, NATSO, the national association representing America’s travel plazas and truckstops, applauded Rep. Diane Black (R-Tenn.) for introducing the “Biodiesel and Renewable Diesel Incentive Extension Act of 2016,” (H.R. 5994) that would extend the biodiesel blenders’ tax credit for two years through 2018.

The tax credit is set to expire at the end of 2016 unless Congress acts to extend it. Since 2005, the $1.00 per gallon biodiesel blenders’ tax credit has helped fuel retailers to sell biodiesel at a price that is cost competitive with gasoline and diesel, thereby advancing consumer consumption. Failure by Congress to renew the tax credit, or converting the tax credit from a blenders’ credit to a producers’ credit, would drive up biodiesel prices to a degree that would diminish consumer interest in the product, ultimately hindering U.S. efforts to advance the utilization of cleaner burning fuels.

Print Friendly, PDF & Email

Tags: , ,

Category: Producer News

Thank you for visting the Digest.