An extension of the $1 per gallon biodiesel tax credit was not included in either the House or the Senate tax reform packages. National Biodiesel Board Director Greg Anderson says this is a concern to soybean farmers, as the incentive will now have to move separately on a tax extender bill. However, he is optimistic it will be restored because they have good support in Congress.

He says they continue to push for a change to a producers credit that would only go to domestic biodiesel entities. Plus, they want a longer-term fix, to avoid the continual expiration of the tax credit.

Anderson says even without the tax incentive the U.S. biodiesel industry is seeing some increase in production, as most biodiesel producers understand it will be restored and made retroactive.

However, Anderson says with some certainty the biodiesel industry would likely see more robust growth and investment.