Last week, Congresswoman Cindy Axne (D-IA 3rd) helped introduce bipartisan legislation to extend the biodiesel tax credit for another three years. She was joined by Representative Mike Kelly (R-PA 16th).
The current tax credit is set to expire in 2022 after it was extended in 2019. Axne said that it had lapsed once before, and Congress cannot allow it to happen again.
Axne says the situation for the biodiesel producers was dire the last time the credit had lapsed, and it wasn?t good for the families who relied on those biodiesel jobs. She adds that this helps America support clean energy and a homegrown fuel source.
There has been debate, even by biofuels supporters, that the tax credit is something that could eventually be phased out. Axne says that after the pandemic, the tax credits on renewable fuels need to stay in place.
When the Biden Administration laid out the groundwork for a cleaner energy future for the country, electrification of vehicles was talked about, but biofuels were not included in the discussion. Axne talks about progress she has seen in the Administration being willing to listen on that topic. There is still a distance to go, but talks are happening.
Representatives who signed on to Axne?s legislation include: Reps. Bacon (NE-02), Bost (IL-12), Bustos (IL-17), Cicilline (RI-01), Courtney (CT-02), Craig (MN-02), DeLauro (CT-03), Feenstra (IA-04), Fischbach (MN-07), Guest (MS-03), Hagedorn (MN-01), Hern (OK-01), Hinson (IA-01), Himes (CT-04), Johnson (SD-AL), Kinzinger (IL-16), LaHood (IL-18), Larson (CT-01), Miller-Meeks (IA-02), Marie Newman (IL-03), Pence (IN-06), Sewell (AL-07), Wagner (MO-02), and Walorski (IN-02).
Companion legislation for the biodiesel tax credit was also introduced in the Senate by Iowa Senator Chuck Grassley (R) and Washington Democrat Maria Cantwell.
