Representatives all segments of the biomass-based diesel value chain sent a letter to congressional leaders today, urging them to include a retroactive, multi-year extension of the biodiesel tax incentive as part of a comprehensive budget negotiation or continuing resolution, which could be approved later this week.
The letter was signed by 73 companies and three new organizations from all segments of the biomass-based diesel value chain, including production, blending, distribution, marketing and consumption of biodiesel, renewable diesel and renewable aviation fuels. The letter urges Congress to take immediate action on seamlessly extending the Biodiesel Tax Credit.
The letter implores Congress to include the biodiesel tax credit as contained in S. 2256, the “Tax Extender Act of 2017” introduced by Senator Hatch and others in December, which includes Section 307, an “Extension of the Biodiesel and Renewable Diesel Incentives.”
“Section 307 would continue a seamless, multi-year extension of this worthwhile tax incentive that will help create jobs, reduce fuels costs, diversify the nation’s energy supply and bolster domestic energy production," the letter notes.
For a copy of the letter and signatories, click here.