BioFuels Journal

Washington – The National Biodiesel Board applauded the U.S. House of Representatives Thursday for voting overwhelmingly to reinstate the biodiesel tax incentive but urged lawmakers to act quickly on a longer-term tax deal that would provide more certainty for growth and investment in the U.S. biodiesel industry.

“While we appreciate a one-year extension, we are urging Congress to continue pressing for a longer-term policy that can afford this industry the certainty needed to invest and grow,” said Anne Steckel, NBB’s vice president of federal affairs.

“Biodiesel businesses across the country are poised to expand their operations, hire new workers and build new infrastructure, but we need forward-looking policy.”

“Under a 2014-only package, we will see the biodiesel tax incentive expire on Jan. 1 for the fourth time in six years. It is very difficult to run a business with that kind of uncertainty,” Steckel added.

“So whether it happens in the closing days of this Congress or early next year, we are calling on Congress to act as quickly as possible to pass a multi-year extension that provides some stability.”

The House voted 378-46 Wednesday night to approve HR 5771, which reinstates a host of tax incentives for 2014.

The package includes the $1-per-gallon biodiesel incentive, which expired at the beginning of the year.

The House vote sets up a potential Senate vote in the coming days.

“The biodiesel incentive is proven to create jobs and economic activity, and it pays tremendous dividends in terms of reducing costly pollution and improving our energy security as well,” said NBB Board Chairman Steven J. Levy, managing director at Sprague Operating Resources.

“It is a successful policy that is working so there is no reason to have this kind of perpetual uncertainty.”

Biodiesel – made from a variety of resources including soybean oil, recycled cooking oil and animal fats – is the first EPA-designated Advanced Biofuel to reach commercial-scale production nationwide.

With plants in nearly every state in the country, the industry had a record U.S. market last year of nearly 1.8 billion gallons supporting more than 62,000 jobs.

For more information, please contact Ben Evans at 202-737-8801 or [email protected]

See Related Websites/Articles:

• National Biodiesel Board

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