The biodiesel tax credit is set to expire at the end of this year. Ask Congress to support the Biodiesel Tax Credit Extension Act (S.1806/H.R.3472) to extend the biodiesel and renewable diesel excise tax credit through 2025.
The biodiesel mixture tax credit allows qualified entities, including tax-exempt fleets, registered with the Internal Revenue Service (IRS) to receive a $1/gallon tax credit for biodiesel or renewable diesel sold or used as a fuel in their trade or business. The incentive must first be taken as a credit against the entity’s fuel tax liability, and any excess over this tax liability may be claimed as a direct payment from the IRS.
Fleet managers must have their voice heard on this issue, as they can speak to the utility of the credit from a user’s perspective, rather than the producers who directly profit from biodiesel and renewable diesel sales. URGE CONGRESS TO RENEW THE BIODIESEL TAX CREDIT TODAY