Ag groups ask Congress to immediately extend biodiesel tax credit

Thirteen trade groups representing farmers, rural lenders, crop and biobased oil producers, and biodiesel producers wrote leaders of the House of Representatives and Senate May 22, asking them to take action on bipartisan legislation to extend the biodiesel tax incentive.

“America’s farmers and rural communities are facing a mounting economic threat,” the letter states. “With your leadership, Congress can help mitigate the crisis by taking immediate action on a policy that enjoys bipartisan, bicameral support. We are writing today to ask you to renew and extend the biodiesel tax incentive at the earliest opportunity … Senators and Representatives from both sides of the aisle and across the country agree that the biodiesel tax incentive should be renewed. We ask you to bring an extension of the biodiesel tax incentive up for immediate consideration in Congress.”

Click here to view the letter in its entirety.

Kurt Kovarik, the National Biodiesel Board’s vice president of federal affairs, added, “Income for America’s farmers is falling, and the impact is beginning to be felt in other sectors of the rural economy. Biodiesel production adds value to oilseed crops and recycled oils, providing one bright spot for the agriculture sector. Congress can take rapid action to renew the biodiesel tax incentive—a policy that enjoys broad bipartisan support—to help U.S. biodiesel producers continue growing.”

The groups include the Agricultural Retailers Association, American Farm Bureau Federation, American Soybean Association, CoBank, Corn Refiners Association, Farm Credit Council, National Biodiesel Board, National Council of Farmer Cooperatives, National Farmers Union, National Oilseed Processors Association, National Renderers Association, National Sorghum Producers, and U.S. Canola Association.