NATSO Advocates for Biodiesel Blender Tax Credit

NATSO and a group of coalition partners representing the entire biodiesel supply chain, including consumers, sent a letter to members of the Senate Finance Committee on June 13 reiterating support for the biodiesel blenders tax credit. The letter was sent one day before the Committee is scheduled to hold a hearing on energy tax issues.
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NATSO and a group of coalition partners representing the entire biodiesel supply chain, including consumers, sent a letter to members of the Senate Finance Committee on June 13 reiterating support for the biodiesel blenders tax credit. The letter was sent one day before the Committee is scheduled to hold a hearing on energy tax issues.

Since 2005, there has been a biodiesel and renewable diesel blenders' tax credit of $1.00 for each gallon of biodiesel blended into diesel fuel and home heating oil. "For more than ten years, this tax credit has worked," the group said in its letter to the Finance Committee. "It creates a strong incentive for downstream fuel marketers to blend renewable fuel into the fuel supply all while lowering prices at the pump for consumers."
 
The credit will expire at the end of 2016 if it is not extended. The coalition's letter urges Congress to extend the tax credit for at least two more years.  Further, certain domestic biodiesel producers have begun advocating for converting the blenders' credit to a producers' credit. The coalition's letter strongly opposes this policy shift: "This proposed policy change would (i) increase fuel prices for the millions of trucks that move two-thirds of the country's freight; (ii) raise the price of heating oil in the Northeast; and (iii) result in a trade violation."

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