Language to revive the dollar-per-gallon biodiesel tax credit was included in in text of an end-of-year appropriations bill released Monday evening. The language, if approved, would enact the tax credit retroactively for the 2018 and 2019 tax years as well as 2020 through 2022.
“Not only do we have the extension, it goes through 2022,” said Pro Farmer Washington Correspondent Jim Wiesemeyer. “We finally have a few years here that the biodiesel industry can plan on absolutely having that tax incentives so the industry can grow again.”
Tax incentives for cellulosic biofuels, biofuel infrastructure and electric vehicles were also included in the language.
"Today’s announced deal provides the policy certainty that the biodiesel industry has been seeking to support investments and continued growth of production,” said Kurt Kovarik, the National Biodiesel Board (NBB) Vice President of Federal Affairs in a press release. “NBB and its members are grateful that Congressional leaders are providing a positive signal before the year’s end.”
The tax incentives are included in a pair of must-pass appropriations bills that are expected to clear both the House and Senate this week.