Jan 03, 2019
Congress was working right up until Christmas on a tax package that included extension of the biodiesel credit, but as 2019 begins the biodiesel credit remains lapsed.
On Dec. 20 the U.S. House of Representatives passed a package of tax provisions, including extension of the biodiesel tax credit, by a vote of 220-183. However, that tax package did not get a vote in the Senate prior to the stalemate on the remaining government funding bills that resulted in a partial government shutdown and time running out on the 115th session of Congress.
A new Congress is sworn in on Jan. 3 marking the start of a new session and any legislation will have to be re-introduced in the House or Senate. Given the on-going stand-off on government funding and the border wall, it is unclear when or if pending tax issues will be addressed.
ASA, along with our biodiesel industry partners, will continue to reiterate the value and importance of the biodiesel tax credit and urge Congress to enact a long-term extension as soon as possible.