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NBB Press Releases

NBB, 50+ Other Associations Urge Passage of Tax Extenders Before Year-End

Dec 19, 2017
Biodiesel Tax Credit Is One of the Incentives That Lapsed in December 2016, Requires Reinstatement

NEWS
FOR IMMEDIATE RELEASE

 Contact: Rosemarie Calabro Tully
202-641-6209
rcalabrotully@biodiesel.org

WASHINGTON, D.C. – Today the National Biodiesel Board (NBB) joined a broad coalition of trade associations in a letter sent to Congressional leaders that called for including a multiyear extension of the energy tax provisions in any end-of-year legislative vehicle. In addition to NBB, more than 50 other organizations signed the letter, representing a variety of business, energy, transportation, real estate and agriculture stakeholders.

“These temporary tax provisions, which expired at the end of 2016, impacts sectors vital to the U.S. economy and support tens of thousands of jobs nationwide. Acting to extend these expired tax provisions will allow businesses and individuals to make important planning decisions. Allowing these tax provisions to remain lapsed creates confusion in the marketplace, and effectively increases taxes on entities that create jobs and economic growth,” they write. “Accordingly, we respectfully ask that Congress add a multiyear extension, beginning January 2017, of these important tax provisions to any end-of-year legislative vehicle.” The full text of the letter is available for download as a PDF here.

“The biodiesel industry is interested in consistency and durability as it relates to the biodiesel tax credit, which we hope to see reinstated this year. This letter shows how important that credit is to a broad range of industries,” said Doug Whitehead, chief operating officer at the National Biodiesel Board. “Tens of thousands of U.S. jobs in manufacturing, agriculture, trucking and other industries are at risk. The clock is ticking, and we hope that Congress acts quickly to reinstate the biodiesel tax credit.”

The National Biodiesel Board is the U.S. trade association representing the biodiesel and renewable diesel industries, including producers, feedstock suppliers and fuel distributors. In terms of federal policy issues, the trade association has been primarily focused this year on increasing volumes in the Renewable Fuel Standard, reinstating the biodiesel tax incentive and securing relief through several trade petitions on unfairly traded biodiesel imports. These efforts contribute to growing the biodiesel industry that already supports nearly 64,000 jobs across the United States.

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.  
 

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For more information on biodiesel, visit www.biodiesel.org 

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