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Bill creating biodiesel production credit awaits broader tax reform

The National Biodiesel Board wants the biodiesel production tax credit bill to make it through Congress but there are some uncertainties about that.

NBB policy director Anne Steckel tells Brownfield the proposed legislation  has bi-partisan support but it’s unclear Congress will be able to get to a comprehensive tax reform measure that’s being talked about, and, if so, when, “It’s a very arduous task and something that is not to be taken lightly. And, so, it’ll probably take Congress a while to work its way through that. So, right now, we – as an industry – are just waiting to see how the bigger pieces of tax reform play out and how we fit into that.”

The production credit bill, introduced in the House and Senate in April, would replace the current one-dollar-per-gallon “blenders” credit. Steckel says the change would help stem the flow of “unfairly subsidized” biodiesel imports into this country and help domestic biodiesel producers.