Rep. Kristi Noem (at large–S.D.) recently introduced H.R. 5240, the Biodiesel Tax Incentive Reform and Extension Act of 2016. This legislation would extend the $1-per-gallon tax credit for biodiesel through the end of 2019 and reform the credit from a blender’s credit to a producer’s credit for fuel using U.S. commodities.
This reform will support domestic production and ensure that economic benefits will pass through to soybean, canola and livestock producers.
Farm Bureau members are urged to contact their members of Congress and ask them to support this legislation. Without congressional action, the biodiesel tax credits will expire at the end of this year. Learn more at http://biodiesel.org.
Biodiesel Tax Credit Extension Offered in Congress
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