With the biodiesel tax incentive in place, the U.S. market has grown from a few hundred million gallons to more than 2.6 billion gallons annually. There are biodiesel and renewable diesel production plants across the country, and their fuels are used
nationwide in transportation, heating, and other applications. Producers continue to build capacity, but they are looking for certainty in this policy.
Since its initial implementation, Congress has renewed the biodiesel tax incentive every few years to keep it in place continuously. When the tax credit has been in place at the start of the calendar year, the industry has grown sustainably. However,
the biodiesel tax incentive expired at the end of 2017.
NBB and its members urge Congress – through direct meetings, letters and other direct communications – to restore the tax credit for 2018 and 2019 and provide multiyear certainty for the future.
As our members communicate with Members of Congress, the media, and the public, NBB works with them to amplify these points:
- With plants and markets across the country, the U.S. biodiesel and renewable diesel industry supports more than 60,000 U.S. jobs, paying $2.54billion in annual wages. The industry generates more than $17 billion in economic activity each year.
- Fuel blenders can protect consumers from volatile international oil prices by diversifying the fuel supply. Because biodiesel boosts fuel supplies and lowers demand for foreign oil, U.S. consumers saved at least 17 cents on every gallon of diesel
- Biodiesel producers use the broadest mix of raw materials – including recycled cooking oil, animal fats and plant oils – providing value to underutilized resources.