2021 Biodiesel Tax Credit Receives Bipartisan Support

Capitol Hill has seen support by both sides of the aisle for the extension of the Biodiesel Tax Credit Extension Act of 2021. The bill is meant to prolong federal biodiesel tax credits through 2025. There is hope that adding the three years of certainty will boost growth in U.S. production for better, cleaner fuels to help reduce carbon emissions. The tax credit is said to also help reduce dependence on foreign oil and boost rural economies through soybean crop demand. Approximately 13% of the value of each bushel of soybeans is supported by biodiesel production says one report. Read more about the bill and its approval progress.