Fuel supplies applaud introduction of biodiesel tax credit extension bill

In Washington, NATSO, representing America’s travel centers and truck stops, SIGMA: America’s Leading Fuel Marketers, and the National Association of Convenience Stores (NACS), commended a bipartisan group of lawmakers for introducing the “Biodiesel Tax Credit Extension Act of 2024,” which would extend the biodiesel blender’s tax credit. The legislation is sponsored by Representatives Mike Carey (R-Ohio), Claudia Tenney (R-NY), Ann Kuster (D-NH.), and Rep. Mariannette Miller-Meeks (R-Iowa).

H.R. 9060 would extend the biodiesel tax credit for one year at the blender level. Extending the biodiesel blender’s tax credit would immediately incentivize fuel retailers nationwide to buy and blend more gallons of biodiesel, which is far better for the environment than petroleum-diesel. Since 2004, the biodiesel tax credit has effectively spurred fuel retailers to invest in the necessary infrastructure to sell low-carbon alternative fuels while encouraging consumers to buy renewable fuel blends due to their lower cost. The biodiesel tax credit helps create jobs, reduce the transportation sector’s greenhouse gas emissions, and enables fuel retailers to offer more competitively priced diesel fuel.