House Ways & Means chair proposes extension of biodiesel tax credits

In Washington, Rep. Kevin Brady (R-Texas), chairman of the House Ways & Means Committee, released a proposal to make technical corrections to the Tax Cuts and Jobs Act (PL 115-97) and to extend several expired tax credits, including the biodiesel and renewable diesel tax incentive. NBB welcomed the proposal for a multi-year extension of this important incentive; it would keep the credit at its current rate of $1.00 per gallon for 2018 through 2021 but gradually reduce it to $0.33 per gallon by 2024 and then allow it to expire.