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NBB Thanks Congress for Multiyear Extension of the Biodiesel Tax Incentive

Dec 17, 2019, 11:28 AM
If passed, tax credit would provide certainty for industry through 2022

NEWS
FOR IMMEDIATE RELEASE

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

WASHINGTON, DC - Today, the National Biodiesel Board (NBB) and its members thanked Congressional champions for introducing a multiyear extension of the biodiesel tax incentive. If passed, the credit would be available to biodiesel blenders through 2022. The credit will help to expand markets and support expansion of biodiesel and renewable diesel production.

Kurt Kovarik, NBB's Vice President of Federal Affairs, stated, "Today’s announced deal provides the policy certainty that the biodiesel industry has been seeking to support investments and continued growth of production. NBB and its members are grateful that Congressional leaders are providing a positive signal before the year’s end.

"On behalf of NBB members, I’d like to thank Senator Chuck Grassley and Representative Abby Finkenauer as well as many other senators and representatives from both sides of the aisle for their strong and consistent championship of our industry. I’d also like to thank the producers, soybean farmers, heating oil distributors, blenders, and others who have worked tirelessly to advocate for extension of the biodiesel tax credit. We will continue to work with our champions to get this legislation across the finish line before the end of the year."

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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