A coalition of eight organizations recently sent a letter to the House Committee on Fundraising urging Congress to extend the Section 40A Biodiesel Blender Tax Credit.
The Biodiesel Blender Tax Credit provides a $1 per gallon tax credit for the purchase of biofuels. It was introduced in 2004 and expired last year.
The biodiesel tax credit expires at the end of 2024, which has hit the biofuels supply chain hard. Many biofuel production facilities, especially biodiesel plants, have been downsized or closed altogether.
Organizations that signed the letter include the American Trucking Associations, the Clean Freight Coalition, the American Energy Marketers Association, the National Association of Convenience Stores, the National Association of Truckstop Operators, the National Institute of Energy and Fuels, SIGMA, the nation’s leading fuel marketer, and the Trucking Associations.
