Bio-diesel Tax Credit Extension Proposed
Fuel retailers, bio-diesel producers applaud the proposal seeking a two-year extension.
ALEXANDRIA, Va. April 08, 2019; The NACS newsletter reported that NATSO, the national association for truck stops and travel plazas, along with other organizations representing the biodiesel supply chain, have praised a bipartisan group of lawmakers for introducing legislation to extend the biodiesel tax credit.
“This legislation underscores the fact that the bio-diesel tax credit has strong Democratic support in the House of Representatives,” said David Fialkov, vice president of government affairs, NATSO. “The authors of this legislation understand that the biodiesel tax credit helps create jobs, reduces the transportation sector’s greenhouse gas emissions and enables fuel retailers to offer more competitively priced diesel fuel, which in turn lowers the price of all consumer goods that are moved by truck. The biodiesel tax credit has bipartisan support in both chambers of Congress. It’s time to get this done.”
Michael McAdams, president of the Advanced Biofuels Association, said ABA’s “membership is grateful and will work vigorously to support the bipartisan legislation, which is crucial to ensuring that biodiesel products can continue to create jobs and make a product that substantially improves the transportation industry’s greenhouse gas footprint, all while lowering fuel prices. Producers win, retailers win and, most importantly, consumers win.”
The American Trucking Associations agrees. “ATA applauds the bipartisan group of House lawmakers for introducing this legislation,” said Glen Kedzie, vice president, ATA. “The biodiesel blender tax credit results in lower fuel costs for truckers throughout the country.”
“NACS members around the country have used the tax credit to offer biodiesel as an affordable option for consumers,” said Paige Anderson, director of government relations, National Association of Convenience Stores. “We applaud the bipartisan group of members of Congress for introducing a two-year extension of the credit so fuel retailers and marketers can include biodiesel in their fuel portfolio in the near future.”
“SIGMA strongly supports this legislation, which would immediately incentivize fuel marketers to buy and blend additional gallons of biofuels,” said Brad Puryear, president, Society of Independent Gasoline Marketers of America. “This legislation promotes American energy independence and cleaner energy.”
The legislation is sponsored by Rep. Abby Finkenauer (D-IA), as well as Reps. Ron Kind (D-WI), Dave Loebsack (D-IA), Darin LaHood (R-IL), Danny Davis (D-IL), Rosa DeLauro (D-CT), Cheri Bustos (D-IL) and others.