National Hog Farmer is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Senators Ask for Renewal of Biodiesel Tax Credit

Senators Maria Cantwell (D-WA) and Charles Grassley (R-IA) have introduced legislation to reinstate the biodiesel tax credit. The “Biodiesel Tax Incentive Reform and Extension Act of 2014,” would extend the $1 per gallon tax credit for biodiesel producers through 2017. 

Senator Cantwell said, “This legislation gives businesses the certainty they need to invest in biodiesel and the development of affordable, domestic alternatives to fossil fuels.”

 

Like what you’re reading? Subscribe to the National Hog Farmer Weekly Wrap Up newsletter and get the latest news delivered right to your inbox every week!

 

The legislation also eliminates potential abuses and simplifies how the tax is administered.  It restricts the credit to fuel producers and excludes fuel blenders from eligibility. It simplifies the definition of “biodiesel” to encourage production from any biomass-based feed stock or recycled oils and fats.  Small producers with an annual production capacity of less than 60 million gallons would receive a credit of $1.10 per gallon for the first 15 million gallons produced.

You might also like:

Many Factors are Working Together to Impact Pork Supply

Setting the Right Feeding Program

Pork Supply Issue Offers both Opportunity and Risk

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish