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NBB welcomes introduction of multiyear extension of the Biodiesel Tax Credit

In the United States (US), the National Biodiesel Board (NBB) and its members thanked "Congressional champions" for the introduction on December 17, 2019, of a multiyear extension of the biodiesel tax incentive. If passed, the credit would be available to biodiesel blenders through 2022. "Today’s announced deal provides the policy certainty that the biodiesel industry has been seeking to support investments and continued growth of production," said Kurt Kovarik, NBB's VP of Federal Affairs.

According to the National Biodiesel Board (NBB), the Biodiesel Tax Credit (BTC) will help to expand markets and support the expansion of biodiesel and renewable diesel production.

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 an 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, said Kurt Kovarik, NBB’s Vice President of Federal Affairs.

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