Washington, DC - Dec. 17, 2019 -Today, the National Biodiesel Board (NBB) and its members thanked Congressional champions for introducing a multiyear extension of the biodiesel tax incentive.
If passed, the credit would be available to biodiesel blenders through 2022. The credit will help to expand markets and support expansion of biodiesel and renewable diesel production.
Kurt Kovarik, NBB's Vice President of Federal Affairs, stated, "Today’s announced deal provides the policy certainty that the biodiesel industry has been seeking to support investments and continued growth of production.
"NBB and its members are grateful that Congressional leaders are providing a positive signal before the year’s end.
"On behalf of NBB members, I’d like to thank Senator Chuck Grassley and Representative Abby Finkenauer as well as many other senators and representatives from both sides of the aisle for their strong and consistent championship of our industry.
"I’d also like to thank the producers, soybean farmers, heating oil distributors, blenders, and others who have worked tirelessly to advocate for extension of the biodiesel tax credit.
"We will continue to work with our champions to get this legislation across the finish line before the end of the year."
For more information, please contact Paul Winters at 202-737-8801 or pwinters@biodiesel.org