Soy Growers Urge Timely Biodiesel Tax Credit Extension

While the biodiesel tax credit was extended retroactively for 2017, it is once again lapsed for 2018 and beyond. Congressional supporters, especially in the U.S. Senate, continue to push for consideration of an extension of the biodiesel tax credit for 2018 while a longer-term policy is developed.

This week, the American Soybean Association (ASA) joined our biodiesel industry partners on a letter to Congressional Leadership, urging extension of the biodiesel tax credit for 2018 as soon as possible. In addition, ASA also joined a broader letter that included various industries that are seeking extension of expired tax credits.

On March 14th, the House Ways & Means Committee will hold a hearing on the expired tax credits. Ways & Means Committee Chairman Kevin Brady (R-TX) has indicated his intent to review the expired credits to determine which should be continued and which ones would no longer be extended.