The National Biodiesel Board (NBB) says it’s pleased with a proposal by the House Ways and Means Committee to extend the biodiesel tax credit until 2024, even though it also includes a gradual phase out of the subsidy.
Kurt Kovarik is NBB’s vice president of federal affairs.
“Our industry has been asking for a multi-year extension with some level of permanence,” Kovarik says. “This package doesn’t provide that, but given the makeup of the folks putting the package together, we feel like it’s a pretty good first step.”
Kovarik says most other tax credits in the bill are only receiving a one-year extension.
