Biodiesel advocates plan tax credit rally May 1 on Capitol Hill
The National Biodiesel Board will host a press conference May 1 at 9:30 am Eastern with Sens. Chuck Grassley, Joni Ernst and Sheldon Whitehouse, and Reps. Abby Finkenauer, Cheri Bustos, Darin LaHood and others to discuss the status of the biodiesel and renewable diesel tax credit. The press conference will take place in the “Senate Swamp,” which is the east front lawn of the U.S. Capitol building.
In February, Grassley introduced in the Senate the Tax Extender and Disaster Relief Act of 2019 (S.617) to renew a range of tax credits, including the biodiesel tax incentive, which expired Dec. 31, 2017. In April, Finkenauer introduced in the House the Biodiesel Tax Credit Extension Act of 2019 (HR 2089), which would extend the tax credit for 2018 and 2019.
Biodiesel companies relying on the tax incentive will rally for its renewal and in support of these bills.
Donnell Rehagen, CEO of the National Biodiesel Board, will join the legislators and will be accompanied by representatives of NBB member companies American GreenFuels, Hero BX, Newport Biodiesel, Western Dubuque Biodiesel, state soy associations and regional Clean Cities Coalitions, who will be available to discuss the impact of the 16-month tax credit lapse.
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