This week, U.S. Senators Chuck Grassley (R-IA) and Amy Klobuchar (D-MN) introduced bipartisan legislation to extend availability of the Small Agri-Biodiesel Producer Credit through 2029. U.S. companies that produce up to 60 million gallons of biodiesel per year using domestic agricultural feedstocks can claim this income tax credit of $0.20 per gallon on the first 15 million gallons of production. The credit will expire on Dec. 31 this year unless Congress adopts the extension introduced today. “Small biodiesel producers are making an outsized contribution to America’s energy security right now, producing lower-cost, drop-in distillate fuel that’s needed to keep the economy moving,” says Vice President of Federal Affairs Kurt Kovarik. “These companies are investing in rural communities, creating and preserving jobs, and running full out to provide cleaner, better, more affordable fuel to meet today’s demand.”
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