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Biodiesel tax credit

Last week, Congressional negotiators reached agreement with the White House on a package of tax policies, including a multi-year extension of the biodiesel tax incentive.

The tax package extends the $1-per-gallon tax credit for biodiesel and renewable diesel and the 10-cent per gallon small agri-biodiesel producer credit retroactively for 2018 and 2019 and prospectively for 2020, 2021 and 2022. The last time the credit was in place at the start of the year was 2016.

The House of Representatives added the tax package to omnibus appropriations measure and passed it the afternoon of Dec. 17. The Senate is expected to clear the measure and send it to President Trump for signature before Friday, Dec. 20.

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