Biodiesel Tax Incentive Renewed



The fiscal cliff package did reinstate the biodiesel tax incentive for 2012 and 2013.  National Biodiesel Board director and farmer Bob Metz says the renewable of the $1 per gallon blenders credit will provide real certainty to the market.

Metz says they’re pleased with the support for the industry from lawmakers.

National Biodiesel Board spokesman Ben Evans says the industry is now poised for growth and job gains in 2013.  With the approval of the extension he says they can finally have some certainty.  However, they will continue to work for a longer extension of the tax incentive.

A recent study found that the industry would have produced an additional 300 million gallons this year with the tax incentive in place. That would have supported some 19,213 additional jobs, for a total of 83,258 jobs supported by the industry nationwide.
 

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