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NBB Again Disappointed by Failure to Renew Biodiesel Tax Credit

Mar 22, 2018
Congress Reaches Another Deal to Fund the Government That Fails to Reinstate the Biodiesel Tax Credit

NEWS
FOR IMMEDIATE RELEASE

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

WASHINGTON, D.C. – Today, the U.S. Congress is expected to pass an omnibus spending bill to fund the government that did not include a reinstatement of the biodiesel tax credit.

“The National Biodiesel Board is again disappointed that Congress has failed to provide pro-growth tax certainty for a domestic energy industry that has broad, bipartisan support. The lack of urgency by Congress to extend this expired tax credit continues to frustrate the producers, blenders and marketers of biodiesel,” said Kurt Kovarik, vice president of federal affairs for the National Biodiesel Board (NBB). “We will work to educate members of the economic and environmental benefits of increased use of biodiesel, so that Congress is poised to drive investments in this American energy industry.”

In February 2018, Congress passed a retroactive extension of the biodiesel tax incentive for 2017 only. But producers continue to operate in 2018 without a tax credit, which is forcing biodiesel producers nationwide to carry the risk of the uncertainty caused by the lack of the tax credit. For some small biodiesel producers, that can be the difference between keeping the lights on or shuttering down.

NBB has engaged in aggressive legislative outreach on this issue, taking meetings with elected officials each week on Capitol Hill, participating in a recent Congressional hearing on the issue and sending multiple letters to Congressional leaders making the case for renewal of the biodiesel tax incentive.
 
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. Biodiesel supports roughly 64,000 jobs across the United States.

The National Biodiesel Board is the U.S. trade association representing the biodiesel and renewable diesel industries, including producers, feedstock suppliers and fuel distributors.


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