Extend the Biodiesel and Renewable Diesel Tax Incentives

Floor Speech

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Mr. YOUNG of Iowa. Mr. Speaker, I rise today to call on my colleagues in Congress to extend the biodiesel and renewable diesel tax incentives through the end of this year.

For many years, biodiesel producers, blenders, and marketers have endured inconsistent Federal tax treatment, while being asked to wait for a much-needed thoughtful and comprehensive look at energy tax policy. We just celebrated the end of an old, outdated, and out-of- touch Tax Code, and it is time to deal with the last pieces of uncertainty.

Biodiesel provides important environmental and economic benefits across the country, helps us reduce our reliance on foreign energy sources, and is a reliable source of American-made energy. Production has long been stymied by the on-again, off-again policy Congress has been implementing, and we must provide certainty to the markets and to all the producers, blenders, and marketers whose livelihood depends on biodiesel.

Mr. Speaker, I ask my colleagues to join me and extend the biodiesel and renewable diesel tax incentives to the end of this year, and work with me and others, in a bipartisan way, to find a more permanent solution to this system of irresponsible stopgap tax extensions.

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