The National Biodiesel Board thanked a bipartisan group of senators and representatives for introducing the Biodiesel Tax Credit Extension Act of 2021. Senators Chuck Grassley (R-IA) and Maria Cantwell (D-WA) and Reps Cindy Axne (D-IA) and Mike Kelley (R-PA) introduced the legislation that would provide the biodiesel and renewable diesel industry certainty for an additional three years.
It would support continued growth in the U.S. production of better, cleaner fuels that are reducing carbon emissions now and boosting rural economies. “As Congress looks to jumpstart economic growth, rebuild infrastructure, and reduce carbon emissions, they can count on biodiesel and renewable diesel to help achieve those goals,” says Kurt Kovarik, NBB Vice President of Federal Affairs. “Biodiesel and renewable diesel are on average 74 percent less carbon-intensive than petroleum diesel and have cut more than 140 million tons of carbon emissions since 2010.”
The U.S. biodiesel and renewable diesel industries support 65,000 jobs in America and more than $17 billion in economic activity each year. Biodiesel production supports approximately 13 percent of the value of each U.S. bushel of soybeans. “The biodiesel tax credit continues to be extremely successful in expanding consumer access to clean, low-carbon fuels,” Kovarik adds.
