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Biofuel groups want incentives extended
A group of biofuel trade organizations wants Congress to extend advanced biofuel tax incentives, including the Second Generation Biofuel Producer Tax Credit. Among the groups is the National Biodiesel Board. Their federal affairs vice president, Anne Steckel, tells Brownfield that extending the incentives would help.
“Clearly, having a tax incentive propels the biodiesel industry and continues to help it grow in a very healthy and sustainable way, so we’re very encouraged that Congress is considering taking up this tax extenders as soon as possible,” said Steckel during a recent interview at the board’s Washington, D.C. headquarters.
The letter is to Senate Finance Chair Ron Wyden and Ranking Member Orrin Hatch asking for the extension of the credits. Progress is being made on dozens of projects in the final stages of development, according to the letter. Biofuel tax credits have allowed biodiesel and other biofuels to reduce the cost of production and develop production technologies, said Steckel.
“The tax incentive has really encouraged the production and growth in a sustainable way of the biodiesel industry,” said Steckel, “it’s also helped us increase our infrastructure and our development.”
The groups urge Wyden and Hatch to move quickly to extend expired biofuel tax provisions, according to the letter, in the interests of energy security, job creation and forward-looking policy.
The NAFB News Service contributed to this article.
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