Farm Industry News Blog

Biodiesel industry to meet with Congress on November 14 to gain support for Biodiesel Tax Incentive

Biodiesel producers and other members of the National Biodiesel Board will meet with congressional representatives on November 14, primarily to garner support for extending the biodiesel tax incentive.

 

Biodiesel producers and other members of the National Biodiesel Board (NBB) will meet with elected officials in Washington, D.C., on November 14 to garner support for the biodiesel tax incentive, which is set to expire on December 31, 2011. 

 

They are also encouraging biodiesel producers to write or call their elected representatives. To make your voice heard and also be part of a growing collective voice, visit www.biodiesel.org and click on the "Fueling Action" box for more information.

 

Senators Charles Grassley (R-Iowa) and Senator Maria Cantwell (D-Wash.) are co-sponsors of the Biodiesel Tax Incentive Reform and Extension Act of 2011, while Representatives Aaron Schock (R-Ill.) and Collin Peterson (D-Minn.) introduced the House bill (H.R. 2238).

 

These bills call for a three-year extension of the biodiesel tax credit through 2014. The bills also would shift the incentive from a blender’s credit to a production tax credit.

 

Biodiesel is produced in nearly every state in the U.S. and will support more than 31,000 U.S. jobs this year, while replacing nearly 1 billion gallons of petroleum diesel, the NBB reports.

 

Biodiesel is the first commercial-scale fuel produced across the country that meets EPA’s definition as an “advanced fuel.” The EPA reported that the U.S. produced a record 119 million gallons of biomass-based diesel in the month of September.

 

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