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Nov 12, 2015
Representatives of the American Soybean Association (ASA) and many biodiesel and soybean industry stakeholders will meet in Washington, D.C. next week as part of the National Biodiesel Board (NBB) membership meeting. The meeting will be extremely timely as the Obama Administration is in the last stages of reviewing the Final Rule for Renewable Fuels Standard (RFS) volume requirements for biomass-based diesel for 2015 through 2017 and Congress is turning their attention toward renewal of the expired tax extenders, including the biodiesel tax credit.
The Final Rule on the RFS volume requirements is due to be issued by Nov. 30. In Congress, talks and activity are picking up as the end of the year approaches and they have yet to address the tax extenders package. The $1 per gallon biodiesel tax credit is one of dozens of tax provisions that expired at the end of 2014, but have historically been renewed retroactively.
ASA strongly supports and is actively pursuing renewal of the biodiesel tax credit and shifting it from a blender’s to a producer’s credit.
