Congress Approves U.S. Blender’s Credit For 2017
As explained in the notice issued by Neste, a member of the Biobased and Renewable Products Advocacy Group (BRAG®), with President Trump’s signing of the Bipartisan Budget Act of 2018 (H.R. 1892), the blenders tax credit was extended retroactively for 2017. Qualified biofuel blenders are eligible for a tax credit of $1.00 per gallon of biodiesel or renewable diesel used in the blending process in 2017. The blenders tax credit was one of several biofuel-related tax incentives that were extended retroactively. The incentives, which also include tax credits for second-generation biofuel production and alternative fuel vehicle refueling property, and a special allowance for second generation biofuel plant property, were not extended through 2018.