Capitol Hill Rally for the Biodiesel Tax Incentive

May 02, 2019

The National Biodiesel Board (NBB) hosted a press conference on Capitol Hill this week, featuring Sen. Chuck Grassley (R-IA), Rep. Abby Finkenauer (D-IA), Rep. Cheri Bustos (D-IL), Rep. Darin LaHood (R-IL), Sen. Joni Ernst (R-IA), Sen. Sheldon Whitehouse (D-RI), Rep. Dave Loebsack (D-IA), Rep. Rosa DeLauro (D-CT) and others to discuss the status of the biodiesel and renewable diesel tax credit. ASA Director Rob Shaffer, who also serves on the NBB Board of Directors, attended the event, along with several other NBB member company representatives, to discuss the impact of the 16-month lapse of the credit.

Grassley in February introduced The Tax Extender and Disaster Relief Act of 2019 (S.617) to renew a range of tax credits including the biodiesel tax incentive that expired in December 2017. Finkenauer, Bustos, LaHood, Rep. Mike Kelly (R-PA), Rep. Ron Kind (D-WI) and Rep. Adrian Smith (R-NE) on April 4 sponsored The Biodiesel Tax Credit Extension Act of 2019, which would extend the tax credit for 2018 and 2019.

ASA continues to emphasize the value biodiesel adds for both soybean farmers and the rural economy—and urges Congress support for the tax incentive. Watch the rally here.