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Lawmakers Call for Biodiesel Credit Extension

SEP. 27, 2018

Lawmakers Call for Biodiesel Credit Extension

DATED SEP. 27, 2018
DOCUMENT ATTRIBUTES
  • Authors
    Young, Rep. David
    Loebsack, David
    LaHood, Rep. Darin
    Bustos, Rep. Cheri
    Wagner, Rep. Ann
    Hartzler, Rep. Vicky
    King, Steve
    Blum, Rod L.
    Guthrie, Rep. Brett
    Walorski, Rep. Jackie
    DeFazio, Rep. Peter A.
    Smith, Rep. Adrian
    Kaptur, Rep. Marcy
    Cicilline, Rep. David N.
    Davis, Rep. Rodney
    Yoder, Kevin
    Comer, Rep. James
    Graves, Rep. Sam
    Peterson, Collin C.
    Bost, Rep. Mike
    DeLauro, Rep. Rosa L.
    Kelly, Rep. Mike
    Kinzinger, Rep. Adam
    Davis, Rep. Danny K.
    Kilmer, Rep. Derek
    Fortenberry, Jeff
    Larson, Rep. John B.
    Walz, Tim
    Roybal-Allard, Rep. Lucille
    Langevin, Rep. James R.
    Luetkemeyer, Rep. Blaine
    Courtney, Rep. Joe
    Esty, Rep. Elizabeth H.
    Kuster, Rep. Ann M.
    Himes, Rep. James A.
    Emmer, Rep. Tom
    Estes, Rep. Ron
    Nolan, Richard M.
    Lujan Grisham, Michelle
    Smith, Rep. Jason
    Noem, Kristi
    Cleaver, Rep. Emanuel
    Clay, Rep. Wm. Lacy
    Kind, Rep. Ron
    Blumenauer, Rep. Earl
    Evans, Rep. Dwight
  • Institutional Authors
    U.S. House of Representatives
  • Subject Area/Tax Topics
  • Industry Groups
    Energy
  • Jurisdictions
  • Tax Analysts Document Number
    2018-38918
  • Tax Analysts Electronic Citation
    2018 TNT 189-15

September 27, 2018

The Honorable Paul D. Ryan
Speaker
U.S. House of Representatives
H-232 The Capitol
Washington, D.C. 20515

The Honorable Kevin McCarthy
Majority Leader
U.S. House of Representatives
H-329 The Capitol
Washington, D.C. 20515

The Honorable Nancy Pelosi
Democratic Leader
U.S. House of Representatives
H-204 The Capitol
Washington, D.C. 20515

The Honorable Steny Hoyer
Democratic Whip
U.S. House of Representatives
H-148 The Capitol
Washington, D.C. 20515

Dear Speaker Ryan, Leader Pelosi, Majority Leader McCarthy, and Whip Hoyer,

As we near the end of the 115th Congress, we would like to draw your attention to an unresolved issue of importance to our constituents and states' economies. The Bipartisan Budget Act of 2018 passed in February this year retroactively extended the biodiesel tax incentive for 2017, but left it expired for 2018 and beyond. We strongly support a multi-year extension of the incentive to provide the policy certainty necessary to help the biodiesel industry and rural economies continue to grow.

Biodiesel blenders, producers, truck drivers, consumers, and farmers share the benefits of the biodiesel and renewable diesel tax incentive. The incentive lowers the price of fuel truck drivers pay which lowers the cost of consumer goods they haul. Biodiesel production can add roughly 63 cents of value to every bushel of soybeans. During a time when farm income is at its lowest point in more than a decade, crop prices are below the cost of production, and agriculture markets are bearing the brunt of trade disputes, this value is especially important.

Biodiesel has been and continues to be a great American success story. It is made from a diverse mix of resources, including recycled cooking oil in the Northeast and Northwest, and animal fats in the South. It has diversified our fuel supply to help increase our nation's energy security and provides environmental benefits, including reductions of waste and emissions. Biodiesel production supports more than 60,000 U.S. jobs and helps rural communities across the country build new economic opportunities.

Biodiesel and renewable diesel producers are putting investments on hold in the face of the uncertainty created by the off-again, on-again nature of tax incentive eligibility. A multi-year extension of the biodiesel and renewable diesel incentives will provide the industry the certainty it needs to continue to generate the economic and environmental public benefits.

We look forward to working with you in the coming weeks to resolve this issue of great importance to us and our constituents.

Sincerely,

David Young
Member of Congress

Dave Loebsack
Member of Congress

Darin LaHood
Member of Congress

Cheri Bustos
Member of Congress

Ann Wagner
Member of Congress

Vicky Hartzler
Member of Congress

Steve King
Member of Congress

Rod Blum
Member of Congress

Brett Guthrie
Member of Congress

Jackie Walorski
Member of Congress

Peter DeFazio
Member of Congress

Adrian Smith
Member of Congress

Marcy Kaptur
Member or Congress

David N. Cicilline
Member of Congress

Rodney Davis
Member of Congress

Kevin Yoder
Member of Congress

James Comer
Member of Congress

Sam Graves
Member of Congress

Collin C. Peterson
Member of Congress

Mike Bost
Member of Congress

Rosa L. DeLauro
Member of Congress

Mike Kelly
Member of Congress

Adam Kinzinger
Member of Congress

Danny K. Davis
Member of Congress

Derek Kilmer
Member of Congress

Jeff Fortenberry
Member of Congress

John B. Larson
Member of Congress

Tim Walz
Member of Congress

Lucille Roybal-Allard
Member of Congress

James R. Langevin
Member of Congress

Blaine Luetkemeyer
Member of Congress

Joe Courtney
Member of Congress

Elizabeth H. Esty
Member of Congress

Ann McLane Kuster
Member of Congress

Jim Himes
Member of Congress

Tom Emmer
Member of Congress

Ron Estes
Member of Congress

Richard M. Nolan
Member of Congress

Michelle Lujan Grisham
Member of Congress

Jason Smith
Member of Congress

Kristi Noem
Member of Congress

Emanuel Cleaver, II
Member of Congress

Wm. Lacy Clay
Member of Congress

Ron Kind
Member of Congress

Earl Blumenauer
Member of Congress

Dwight Evans
Member of Congress

DOCUMENT ATTRIBUTES
  • Authors
    Young, Rep. David
    Loebsack, David
    LaHood, Rep. Darin
    Bustos, Rep. Cheri
    Wagner, Rep. Ann
    Hartzler, Rep. Vicky
    King, Steve
    Blum, Rod L.
    Guthrie, Rep. Brett
    Walorski, Rep. Jackie
    DeFazio, Rep. Peter A.
    Smith, Rep. Adrian
    Kaptur, Rep. Marcy
    Cicilline, Rep. David N.
    Davis, Rep. Rodney
    Yoder, Kevin
    Comer, Rep. James
    Graves, Rep. Sam
    Peterson, Collin C.
    Bost, Rep. Mike
    DeLauro, Rep. Rosa L.
    Kelly, Rep. Mike
    Kinzinger, Rep. Adam
    Davis, Rep. Danny K.
    Kilmer, Rep. Derek
    Fortenberry, Jeff
    Larson, Rep. John B.
    Walz, Tim
    Roybal-Allard, Rep. Lucille
    Langevin, Rep. James R.
    Luetkemeyer, Rep. Blaine
    Courtney, Rep. Joe
    Esty, Rep. Elizabeth H.
    Kuster, Rep. Ann M.
    Himes, Rep. James A.
    Emmer, Rep. Tom
    Estes, Rep. Ron
    Nolan, Richard M.
    Lujan Grisham, Michelle
    Smith, Rep. Jason
    Noem, Kristi
    Cleaver, Rep. Emanuel
    Clay, Rep. Wm. Lacy
    Kind, Rep. Ron
    Blumenauer, Rep. Earl
    Evans, Rep. Dwight
  • Institutional Authors
    U.S. House of Representatives
  • Subject Area/Tax Topics
  • Industry Groups
    Energy
  • Jurisdictions
  • Tax Analysts Document Number
    2018-38918
  • Tax Analysts Electronic Citation
    2018 TNT 189-15
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