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National Biodiesel Board pleased with tax incentive bill

The National Biodiesel Board says an extension of the biodiesel and renewable diesel tax incentives is needed.
Regulatory Affairs Director Paul Winters tells Brownfield, “It’s very vital for a lot of companies across the country.”

Winters says when the tax incentive expired at the start of 2018, it put biodiesel producers at a disadvantage. “The deals they make with blenders require them to build the value of that tax credit in and essentially, they’re selling their product below its true value.”

Winters says Representatives Abby Finkenauer (D-IA), Mike Kelly (R-PA), Ron Kind (D-WI) and Rep. Adrian Smith (R-NE) introduced the bipartisan bill to extend the tax incentive through 2019 and provide certainty for 2018 and 2019 to biodiesel producers and their employees.