The biodiesel industry continues to press lawmakers for action on the biodiesel tax incentive. It&rsquo;s a simple ask to reinstate the tax credit as a multiyear producer&rsquo;s credit, given the growth potential for the U.S. biodiesel industry, including jobs and economic benefits. &ldquo;It&rsquo;s simple,&rdquo; said Donnell Rehagen, CEO of the National Biodiesel Board. &ldquo;Biodiesel can continue to grow American jobs and prosperity in communities throughout the nation. Our members are making real investments and significant impacts across America, and they want to do more.&rdquo; Under the current structure of a blender&rsquo;s tax credit, foreign fuel imported and blended with petroleum diesel in the United States is eligible for the tax incentive. In 2016, importers brought in more than 1 billion gallons of fuel under the program, making up nearly a third of the U.S. market and harming domestic workers and manufacturers. The American biodiesel industry currently supports 64,000 jobs across the United States. Many are the highest-paying jobs in a county or region. Changing the structure of the tax credit would open the door for the industry to support an impressive 81,600 U.S. jobs and $14.7 billion in total economic benefit.&nbsp;
&ldquo;These aren&rsquo;t any jobs&mdash;they&rsquo;re great jobs,&rdquo; Rehagen said. &ldquo;But American biodiesel will not reach its full potential under the current regulatory framework. We need commonsense changes to ensure taxpayer dollars and programs are supporting American production and jobs.&rdquo; Along with ongoing meetings and visits to the Hill with NBB staff and governing board members, recent efforts to update the tax code have included a letter-writing campaign and a member fly-in timed around the NBB membership meeting in late June.

NBB staff, members, and industry leaders continue to press lawmakers on the biodiesel tax incentive.

2017/08/Iowa-on-the-Hill-Cropped_15021231724068_largethumb.jpg

2017/08/Iowa-on-the-Hill-Cropped_15021231724068_thumb.jpg

2017/08/Iowa-on-the-Hill-Cropped_15021231724068.jpg

The American biodiesel industry currently supports 64,000 jobs across the U.S. Changing the structure of the tax credit would open the door for the industry to support an impressive 81,600 U.S. jobs and $14.7 billion in total economic benefit. 

Tax Credit Advocacy Keeps the Pressure on Washington

Related Stories

Ethanol industry to convene in Omaha for 41st annual Fuel Ethanol Workshop & Expo

EPA: 1.82 billion RINs generated in March

EPA: 5 new SRE petitions filed, 161 SRE petitions currently pending

CoBank: Policy uncertainty negatively impacts biobased diesel producers

EIA releases Annual Energy Outlook 2025

Upcoming Events

North American SAF Conference & Expo

Tax Credit Advocacy Keeps the Pressure on Washington.css-7jxktu{position:absolute;bottom:0px;left:0px;right:0px;height:3px;border-radius:3px;background-color:var(--chakra-colors-brandBlack);}