Biodiesel Update: Tax Credit and RFS Volume Numbers

NATSO is continuing its outreach to policymakers on Capitol Hill and the Administration regarding biodiesel policy. Additionally, NATSO met last week with the White House Office of Management and Budget (OMB) to discuss the forthcoming Renewable Fuel Standard (RFS) biodiesel volume obligations for 2014-2017.
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NATSO is continuing its outreach to policymakers on Capitol Hill and the Administration regarding biodiesel policy.  
 
In Congress, lawmakers are beginning to seriously consider tax extenders legislation, including the biodiesel tax credit. Certain Members of Congress, led by Senator Chuck Grassley (R-Iowa) and Rep. Kristi Noem (R-S.D.), are advocating converting the biodiesel credit to a producers credit beginning in 2016. 
 
NATSO continues to actively oppose this effort, working with a diverse coalition to send a letter to tax policymakers outlining the virtues of a blenders credit and the downsides of a producer credit.
 
Additionally, NATSO met last week with the White House Office of Management and Budget (OMB) to discuss the forthcoming Renewable Fuel Standard (RFS) biodiesel volume obligations for 2014-2017.
 
NATSO reiterated the points it made in its comments to EPA on this topic,  which said that EPA faces a delicate balance with respect to biodiesel: On the one hand, increasing mandates under the RFS can enable NATSO members to sell the product to consumers and lower prices and thereby increase consumer demand for biodiesel; at the same time, if RVOs are set too high, it could lead to increased prices for diesel fuel, which would have an adverse effect on NATSO members and the U.S. economy as a whole. 
 
EPA is legally required to finalize the volume obligations by Nov. 30, 2015. NATSO anticipates that the rulemaking will be released in coming days. 

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