After this morning’s brief Government Shutdown, Congress passed a bill that includes a retroactive extension of the $1/gallon tax-credit for biodiesel blenders. The credit expired in December 2016 and will be the fifth time this bill has been extended since 2005.
The bill has only been extended through 2017, but there is talk about extending it through 2018 and beyond. It’s believed that plans are in the works to include a biodiesel tax credit extension in the new farm bill, which is anticipated to begin work this year. That extension will likely be voted on in 2019.
It’s unsettling to not have a long-term solution for biodiesel producers, or to even be able to predict what will come for 2018, but we aim to keep you in the loop as news becomes available.