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Biodiesel tax credit extension sought

The biodiesel industry is looking for more good news following the EPA’s proposal for higher blending requirements of the fuel.

Mike Youngerberg with the Minnesota Soybean Growers was in Washington, D.C. this week, pressing Congress to extend the $1-dollar per-gallon Biodiesel Tax Credit for 2018 and 2019.

He’s also seeking some long-term certainty for the on again, off again tax incentive.

“There isn’t a definite proposal yet, but that was certainly out there.  There’s more effort to extend this tax credit and it’s good for America, so a lot of people are being pressed on this issue.”

The Biodiesel Tax Credit has been allowed to expire five times since its enactment in 2005, most recently in March of this year.