House Chairman Releases Tax Bill with Biodiesel Tax Credit Extension

Nov 29, 2018

This week, House Way & Means Committee Chairman Kevin Brady (R-TX), released a tax bill to provide technical corrections to certain comprehensive tax reform provisions enacted last year and to also extend several expired tax credits, including a multi-year extension of the biodiesel tax credit. The proposal would keep the biodiesel credit at its current rate of $1 per gallon for 2018 through 2021 and gradually reduce it through 2024 at the following rates:

2018 - 2021 $1.00
2022 $0.75
2023 $0.50
2024 $0.33

This is a significant development on the biodiesel tax credit and the multi-year extension, which ASA supports, would provide long-sought certainty and stability for the biodiesel market. We need your help urging Members of Congress to enact this biodiesel tax credit extension in 2018.

Please contact your U.S. Representatives and Senators and urge them to support the biodiesel tax credit extension during the lame duck session.