NBB disappointed no renewal of biodiesel tax credit | TheFencePost.com

NBB disappointed no renewal of biodiesel tax credit

Kurt Kovarik
The Hagstrom Report

The National Biodiesel Board expressed disappointment that the omnibus appropriations bill does not extend the biodiesel tax credit for 2018.

“The National Biodiesel Board is again disappointed that Congress has failed to provide pro-growth tax certainty for a domestic energy industry that has broad, bipartisan support,” said Kurt Kovarik, vice president of federal affairs for the National Biodiesel Board.

“The lack of urgency by Congress to extend this expired tax credit continues to frustrate the producers, blenders and marketers of biodiesel,” Kovarik said.

“We will work to educate members of the economic and environmental benefits of increased use of biodiesel, so that congress is poised to drive investments in this American energy industry.”

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NBB noted that in February Congress passed a retroactive extension of the biodiesel tax incentive for 2017 only, which means producers this year are forced to carry the risk of the uncertainty caused by the lack of the tax credit.

“For some small biodiesel producers, that can be the difference between keeping the lights on or shuttering down,” NBB said.

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