The omnibus appropriations bill that’s already won approval in the House of Representatives doesn’t reinstitute the biodiesel tax credit.
Kurt Kovarik, National Biodiesel Board VP of Federal Affairs, says his organization is disappointed that Congress once again hasn’t provided pro-growth tax certainty for a domestic energy industry that has broad bipartisan support. “The lack of urgency by Congress to extend this expired tax credit continues to frustrate the producers, blenders, and marketers of biodiesel,” says Kovarik, “and we will work to educate members of the economic and environmental benefits of increased use of biodiesel, so that Congress is poised to drive investments in this American energy industry.“
Last February, Congress passed a retroactive biodiesel tax credit that applied to 2017 only. Producers continue to operate in 2018 without a tax credit, which is forcing biodiesel producers nationwide to carry the risk of the uncertainty caused by the lack of the tax credit. For some small biodiesel producers, that can be the difference between keeping the lights on or shuttering down.
From the National Association of Farm Broadcasting News Service.