The National Biodiesel Board is pleased with introduction in Congress of the Biodiesel Tax Credit Extension Act of 2021. NBB’s Vice President of Federal Affairs Kurt Kovarik says his group worked with Senators and Representatives on the measure which extends the credit through 2025..He says Iowa’s Chuck Grassley is the lead sponsor in the Senate., and the timing of the introduction is positive.
He says the legislation if approved will bring great benefits to soybean growers.
Kovarik says if the legislation is adopted it’ll lead to long term certainty for biodiesel plants and help the consumer in the long run.
The U.S. biodiesel and renewable diesel industry supports 65,000 U.S. jobs and more than $17 billion in economic activity annually. And biodiesel production supports approximately 73 percent of the value of each U.S. bushel of soybeans.
