Biodiesel Wants Its Tax Break Back

BioRefineries/Renewable Fuel Production, Business News/Analysis, Federal Legislation, Policy

May 2, 2012

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by Dan Piller (Des Moines Register) The National Biodiesel Board (NBB) Thursday asked Congress to reinstate the $1 per gallon biodiesel tax incentive “to avoid further disruption to an emerging American industry that is creating jobs across the country while diversifying U.S. energy supplies.”

In written testimony submitted to the House Ways and Means Committee’s Subcommittee on Select Revenue Measures for a hearing on expiring tax provisions, NBB Vice President Anne Steckel emphasized that the biodiesel industry achieved record production of nearly 1.1 billion gallons last year before the $1-per-gallon tax incentive expired on Dec. 31. She urged lawmakers to pass an extension as quickly as possible to prevent a drop in production and potential layoffs. READ MORE

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