Biodiesel Board to testify in favor of tax credit extension

The National Biodiesel Board is once again pushing for an extension of the biodiesel tax credit and will provide testimony today to a House subcommittee to make their case. The testimony will be part of a hearing before the House Ways and Means Committee’s Tax Policy Subcommittee to discuss recently expired tax provisions. Cal Mayer, chief operating officer at Ag Processing Inc., will testify on behalf of NBB. In advance of the hearing, NBB and more than 50 of its member organizations sent a letter to House and Senate party leadership as well as leaders of tax-writing committees in both chambers to encourage acting on the tax credit for 2018 “as soon as possible.” The group thanked lawmakers for extending the provision through 2017, but said certainty for this year is imperative. If the credit is extended through at least 2018, the letter notes, “the biodiesel industry would experience substantial growth in the near term, which would create significant new employment opportunities.”