SABR Applauds Introduction of Biodiesel Blenders Tax Credit Extension in Congress
The Sustainable Advanced Biofuel Refiners (SABR) Coalition welcomes introduction of a bill in the U.S. House to extend the current $1/gallon biodiesel credit.
JEFFERSON CITY, MISSOURI, USA, July 25, 2024 /EINPresswire.com/ -- A bipartisan bill has been introduced in Congress to extend the current $1/gallon biodiesel blenders tax credit (BTC), which is set to expire at the end of 2024.
HR 9060 was introduced in the U.S. House of Representatives by Reps. Mike Carey (R-OH), Ann Kuster (D-NH), Claudia Tenney (R-NY) and Mariannette Miller-Meeks (R-IA).
“The Sustainable Advanced Biofuel Refiners Coalition (SABR) applauds the efforts of this bipartisan group of lawmakers to extend the biodiesel blenders tax credit,” said CEO Joe Jobe. “This year marks the 20th anniversary of its enactment. The program has been highly successful in stimulating private investment in the current $17 billion industry that is producing green fuel and green jobs in rural and underserved communities. Biodiesel is the lowest cost, lowest carbon heavy-duty biofuel. But biodiesel is currently at an inflection point that is seeing previous investments to decarbonize the ground transportation sector dramatically undermined when we need lower-carbon fuels the most. SABR would prefer that this credit applied only to U.S. producers, but the current BTC offers an ag-friendly, climate-friendly solution during this transitional time. SABR will work with policymakers and anyone else to guide U.S. investment in carbon reduction in a way that benefits U.S. industries, U.S. taxpayers, and U.S. truckers and farmers.”
About Sustainable Advanced Biofuel Refiners
Sustainable Advanced Biofuel Refiners (SABR) is a coalition of stakeholders that have invested in building out America’s first advanced biofuel—biodiesel. Biodiesel is the most cost-effective means to reduce greenhouse gas (GHG) emissions from medium- and heavy-duty vehicles, providing numerous economic, environmental and energy security benefits. It is produced from renewable resources, including, but not limited to, soybean oil, used cooking oil and animal fat.
SABR includes 50-plus organizational members representing every link in the value chain from feedstock growers to biodiesel producers, distributors, retailers and consumers, as well as infrastructure and products and services suppliers.
For more information, please visit www.sabrcoalition.org.
Joe Jobe
Sustainable Advanced Biofuel Refiners (SABR) Coalition
+1 573-680-1948
joe@rockhouse.us
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