Soy Growers Urge Senators to Support American Biodiesel ProductionFri, 18 Jun 2021 09:41:45 CDT
Soy growers are urging U.S. senators to back the Biodiesel Fuel Education Program in FY2022 appropriations and support legislation to extend the biodiesel tax credit to 2025.
U.S. soybeans are a key ingredient in biodiesel, which adds value to soybean crops and reduces greenhouse gas emissions from vehicles. Growers from various soybean-growing states sent letters to their senators this week, pointing to the positive impacts of biodiesel on environmental health and the economy. They highlighted the importance of both the fuel education program and the tax credit to farmers and the biodiesel industry.
The Biodiesel Fuel Education Program was established under the 2002 Farm Bill to stimulate consumption and investment in biodiesel and renewable diesel through information and outreach activities. The biodiesel industry is able to leverage outside funding with the support of the Biodiesel Fuel Education Program to promote the sustainability attributes of biodiesel, provide technical assistance to original equipment manufacturers, develop fuel quality assurance programs, and to support biodiesel blending in home heating oil. The deadline for the appropriation request is today, Thursday, June 17.
The biodiesel tax credit, which will lapse in 2022, helps provide long-term certainty to help expand markets and assure growth of an industry that is driving the economy forward while producing a clean-burning, low carbon fuel. This $1-per-gallon blenders credit makes biodiesel and renewable diesel more cost-competitive, creates jobs, saves consumers money, and strengthens U.S. energy security.
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