Despite 2016 being a Presidential election year biodiesel industry leaders are optimistic about getting an extension of the biodiesel tax credit and getting it changed to a producer’s credit. Anne Steckel, Vice President of Federal Affairs for the National Biodiesel Board says it’s high on their legislative agenda for the rest of this year.
She says they ran out of time to get the tax incentive changed to a producer’s credit when it was included as part of the tax extenders in year-end Omnibus.
Steckel says this tax credit is critical for the biodiesel industry to continue to grow.
Despite the challenges the biodiesel industry faced in 2015 with the tax credit and the lower than required mandate levels in the RFS, production still hit a record at 2 billion gallons.
