Biodiesel companies urge Congress to extend biodiesel and renewable diesel tax breaks

In Washington, the National Biodiesel Board (NBB) and more than 50 member companies and affiliated organizations delivered a letter to House and Senate leaders, urging them to enact a multiyear extension of the biodiesel and renewable diesel tax incentive before Congress adjourns for the year. In February 2018, Congress retroactively extended the tax incentive for 2017, leaving it expired for this year and beyond. The letter welcomes a recent proposal for a seven-year extension of the tax incentive.

In the letter, the biodiesel industry stakeholders state, “We believe that a multiyear extension of the tax incentive would help the biodiesel industry achieve substantial growth over the next several years, creating significant new employment opportunities, an important market for agricultural products and renewable feedstocks, as well as opportunities for rural economic growth.”