Washington, D.C. – Today the National Biodiesel Board (NBB) responded to the release of the comprehensive tax reform proposal issued by U.S. Rep. Kevin Brady (R-Texas):
“NBB members across the country are disappointed that this first draft of congressional tax reform legislation does not include an extension of the critical biodiesel tax incentives.
For decades, stable federal tax incentives for oil and gas have contributed to the world-class, conventional energy industry of today, and NBB encourages legislators to create a similarly stable tax framework for biodiesel and renewable diesel.
As the process moves along, NBB stands ready to work with Congressional lawmakers to craft a robust, biodiesel tax incentive that will provide public benefits such as rural job creation, a diversified national fuel portfolio, and fewer toxic pollutants in the air,” said Doug Whitehead, chief operating officer at the National Biodiesel Board.
The Tax Cuts and Jobs Act is available online HERE.
NBB will continue to work with lawmakers to address these concerns and to include biodiesel tax incentives in comprehensive tax reform proposals moving forward.
Made from an increasingly diverse mix of resources such as recycled cooking oil, soybean oil and animal fats, biodiesel is a renewable, clean-burning diesel replacement that can be used in existing diesel engines without modification.
It is the nation’s first domestically produced, commercially available advanced biofuel.
The National Biodiesel Board is the U.S. trade association representing the biodiesel and renewable diesel industries, including producers, feedstock suppliers and fuel distributors.