The National Biodiesel Board says in a letter signed by more than 70 other organizations and stakeholders that the very industry they represent is on the line if lawmakers are unable to pass an extension of a $1-per-gallon tax credit. The letter, addressed to House Republican and Democratic Party leaders as well as the chair and ranking member of the House Ways and Means Committee, say the uncertainty surrounding the tax credit “is curtailing investments in new plants and capital projects to upgrade existing plants. It is beginning to force some producers, blenders and distributors to cut back purchases of raw materials and deliveries of renewable fuel to consumers, which will have impacts across the economy.” The tax credit was not addressed in 2018, leaving biofuel producers unsure if it could be incorporated into business planning for the last year. The credit has traditionally been extended every year, but a multiyear extension did not gain traction at the end of last year, leaving the credit lapsed.
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