Fuel Retailers Applaud Biodiesel Tax Credit Legislation
ALEXANDRIA, Va. — Industry associations for the convenience and fuel retail channels including NATSO, SIGMA and NACS commended a bipartisan group of lawmakers for introducing the Biodiesel Tax Credit Extension Act of 2024 (H.R. 9060), which would extend the biodiesel blender's tax credit.
The credit extension would provide immediate incentives to fuel retailers nationwide to buy and blend more gallons of biodiesel. The biodiesel tax credit has existed since 2004 and is intended to help spur investment in the necessary infrastructure to sell low-carbon alternative fuels while encouraging consumers to buy renewable fuel blends due to their lower cost and potential environmental benefits.
[Read more: NATSO & Werner Enterprise Introduce New Safety Collaboration]
The credit also lowers the price that truck drivers pay for diesel fuel, which in turn can help lower the cost of shipping and therefore the price consumers pay for products that are moved by truck.
"Renewable diesel and biodiesel represent a vital component of any sound strategy for lowering transportation sector emissions. Trucks are harder and more expensive to electrify than cars, and while we pursue aspirational goals, we still must capitalize on economically viable solutions that help us lower emissions today," said David Fialkov, executive vice president of government affairs for NATSO and SIGMA.
Biodiesel historically has been the most widely consumed biofuel for use in commercial trucking and, according to NATSO, represents the best opportunity to reduce carbon emissions from the nation’s commercial trucking fleet for the foreseeable future.
"This legislation is key to supporting our industry's continued investment in advanced renewable fuels," said Paige Anderson, director of government relations at NACS. "We … encourage all members of Congress to support this bill, which will extend [the] fuel supply and incentivize fuel retailers to invest in low-carbon alternative fuels at a cost that is attractive to consumers."
H.R. 9060 is currently being sponsored by Representatives Mike Carey (R-Ohio), Claudia Tenney (R-N.Y.), Ann Kuster (D-N.H.), and Rep. Mariannette Miller-Meeks (R-Iowa).
[Read more: TravelCenters of America & NATSO Partner on New Safety Initiative]
Founded in 1960, NATSO is the trade association of America's travel plaza and truck stop industry. The organization represents the industry on legislative and regulatory matters; serves as the official source of information on the diverse travel plaza and truck stop industry; provides education to its members; and supports efforts to generally improve the business climate in which its members operate.
Founded in 1958 as the Society of Independent Gasoline Marketers of America, SIGMA is the national trade association representing approximately 250 independent chain retailers and marketers of motor fuel in the United States and Canada.
NACS advances the role of convenience stores as positive economic, social and philanthropic contributors to the communities they serve. It consists of 1,900 retail and 1,800 supplier members from more than 50 countries.