Fourteen Senators led by Iowa’s Chuck Grassley and Washington’s Maria Cantwell have introduced legislation to extend the biodiesel tax incentive through 2019. National Biodiesel Board’s Ben Evans says it also reforms the measure, changing it from a blender’s credit to a domestic production credit.
He says making the credit a producer incentive is important because it keeps foreign biodiesel producers from taking advantage of a U.S. tax credit.
Evans says passage of this measure is important for giving the U.S. biodiesel industry certainty going forward.
Evans says he’s hoping Senators approve the bill before the end of the year along with the companion measure in the House being carried by South Dakota Congresswoman Kristi Noem.