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Failure to extend biodiesel tax credit would impact economy severely: study

Published Friday, December 11, 2009

The National Biodiesel Board (NBB) released a study conducted by economic analyst John M Urbanchuk. This study examined the economic impact of the biodiesel industry and the negative consequences of allowing the federal biodiesel tax credit to lapse. The biodiesel tax incentive is currently set to expire December 31, 2009. “Since it was enacted in 2004, the biodiesel tax incentive has allowed the nation to reap the economic, energy security, and environmental benefits associated with commercial scale production and use of biodiesel,” said Manning Feraci, vice-president of federal affairs for the NBB. “Allowing the credit to lapse will ...

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