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Agriculture Industry Groups Call on Congress to Immediately Extend the Biodiesel Tax Credit

May 22, 2019, 09:22 AM
Congress can address the growing economic crisis in the agriculture sector, trade groups write

NEWS
FOR IMMEDIATE RELEASE

 Contact: Paul Winters
 202-737-8801
pwinters@biodiesel.org

WASHINGTON, DC – Thirteen trade groups representing farmers, rural lenders, crop and biobased oil producers, and biodiesel producers today wrote leaders of the House of Representatives and Senate, asking them to take action on bipartisan legislation to extend the biodiesel tax incentive.

“America’s farmers and rural communities are facing a mounting economic threat. With your leadership, Congress can help mitigate the crisis by taking immediate action on a policy that enjoys bipartisan, bicameral support. We are writing today to ask you to renew and extend the biodiesel tax incentive at the earliest opportunity,” the letter states.

“Senators and Representatives from both sides of the aisle and across the country agree that the biodiesel tax incentive should be renewed.,” the letter continues. “We ask you to bring an extension of the biodiesel tax incentive up for immediate consideration in Congress.”

A copy of the letter is available for download.

Kurt Kovarik, NBB’s Vice President of Federal Affairs, added, “Income for America’s farmers is falling, and the impact is beginning to be felt in other sectors of the rural economy. Biodiesel production adds value to oil seed crops and recycled oils, providing one bright spot for the agriculture sector. Congress can take rapid action to renew the biodiesel tax incentive – a policy that enjoys broad bipartisan support – to help U.S. biodiesel producers continue growing.”

The groups include the Agricultural Retailers Association, American Farm Bureau Federation, American Soybean Association, CoBank, Corn Refiners Association, Farm Credit Council, National Biodiesel Board, National Council of Farmer Cooperatives, National Farmers Union, National Oilseed Processors Association, National Renderers Association, National Sorghum Producers, and U.S. Canola Association.

Made from an increasingly diverse mix of resources such as recycled cooking oil, soybean oil and animal fats, biodiesel is a renewable, clean-burning diesel replacement that can be used in existing diesel engines without modification. It is the nation’s first domestically produced, commercially available advanced biofuel. NBB is the U.S. trade association representing the entire biodiesel value chain, including producers, feedstock suppliers, and fuel distributors, as well as the U.S. renewable diesel industry.

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For more about biodiesel, visit www.biodiesel.org.

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