NBB brings together 73 stakeholders asking House to pass biodiesel tax incentives

March 26, 2019 |

In Washington, the National Biodiesel Board (NBB), its member companies, and stakeholder organizations delivered a letter to House leaders, urging them to make a multiyear extension of the biodiesel and renewable diesel tax incentive an urgent priority. In February 2018, Congress retroactively extended the tax incentive for 2017, leaving it expired for 2018 and beyond. The letter thanks Sens. Chuck Grassley (R-IA) and Ron Wyden (D-OR) for their bipartisan bill to immediately extend all expired tax incentives.

In the letter, the biodiesel industry stakeholders write, “The future of the credit has been unclear for more than 14 months. That uncertainty is curtailing investments in new plants and capital projects to upgrade existing plants. It is beginning to force some producers, blenders and distributors to cut back purchases of raw materials and deliveries of renewable fuel to consumers, which will have impacts across the economy.”

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Category: Policy

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