Lawmakers Call for Biodiesel Credit Extension
Lawmakers Call for Biodiesel Credit Extension
- AuthorsYoung, Rep. DavidLoebsack, DavidLaHood, Rep. DarinBustos, Rep. CheriWagner, Rep. AnnHartzler, Rep. VickyKing, SteveBlum, Rod L.Guthrie, Rep. BrettWalorski, Rep. JackieDeFazio, Rep. Peter A.Smith, Rep. AdrianKaptur, Rep. MarcyCicilline, Rep. David N.Davis, Rep. RodneyYoder, KevinComer, Rep. JamesGraves, Rep. SamPeterson, Collin C.Bost, Rep. MikeDeLauro, Rep. Rosa L.Kelly, Rep. MikeKinzinger, Rep. AdamDavis, Rep. Danny K.Kilmer, Rep. DerekFortenberry, JeffLarson, Rep. John B.Walz, TimRoybal-Allard, Rep. LucilleLangevin, Rep. James R.Luetkemeyer, Rep. BlaineCourtney, Rep. JoeEsty, Rep. Elizabeth H.Kuster, Rep. Ann M.Himes, Rep. James A.Emmer, Rep. TomEstes, Rep. RonNolan, Richard M.Lujan Grisham, MichelleSmith, Rep. JasonNoem, KristiCleaver, Rep. EmanuelClay, Rep. Wm. LacyKind, Rep. RonBlumenauer, Rep. EarlEvans, Rep. Dwight
- Institutional AuthorsU.S. House of Representatives
- Subject Area/Tax Topics
- Industry GroupsEnergy
- Jurisdictions
- Tax Analysts Document Number2018-38918
- Tax Analysts Electronic Citation2018 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
- AuthorsYoung, Rep. DavidLoebsack, DavidLaHood, Rep. DarinBustos, Rep. CheriWagner, Rep. AnnHartzler, Rep. VickyKing, SteveBlum, Rod L.Guthrie, Rep. BrettWalorski, Rep. JackieDeFazio, Rep. Peter A.Smith, Rep. AdrianKaptur, Rep. MarcyCicilline, Rep. David N.Davis, Rep. RodneyYoder, KevinComer, Rep. JamesGraves, Rep. SamPeterson, Collin C.Bost, Rep. MikeDeLauro, Rep. Rosa L.Kelly, Rep. MikeKinzinger, Rep. AdamDavis, Rep. Danny K.Kilmer, Rep. DerekFortenberry, JeffLarson, Rep. John B.Walz, TimRoybal-Allard, Rep. LucilleLangevin, Rep. James R.Luetkemeyer, Rep. BlaineCourtney, Rep. JoeEsty, Rep. Elizabeth H.Kuster, Rep. Ann M.Himes, Rep. James A.Emmer, Rep. TomEstes, Rep. RonNolan, Richard M.Lujan Grisham, MichelleSmith, Rep. JasonNoem, KristiCleaver, Rep. EmanuelClay, Rep. Wm. LacyKind, Rep. RonBlumenauer, Rep. EarlEvans, Rep. Dwight
- Institutional AuthorsU.S. House of Representatives
- Subject Area/Tax Topics
- Industry GroupsEnergy
- Jurisdictions
- Tax Analysts Document Number2018-38918
- Tax Analysts Electronic Citation2018 TNT 189-15