By supporting biodiesel, Peterson stands up for agriculture
As a soybean farmer in Rep. Collin Peterson’s district, I thank the congressman for walking the walk and supporting farmers by sponsoring the Biodiesel Tax Credit Extension Act of 2019 (HR 2089).
This bipartisan legislation would provide a two-year extension of the biodiesel and renewable diesel tax incentive.
Rep. Peterson, who chairs the House Ag Committee, understands how vital agriculture is to Minnesota’s Seventh Congressional District and the state of Minnesota. By supporting biodiesel, Rep. Peterson is standing up for Minnesota producers and businesses.
Many industries – from farmers and biofuel producers, to fuel blenders and truckers – rely on the value of the tax incentive. If biodiesel production slows down, it would impact all of these sectors.
Biodiesel production supports more than 60,000 jobs throughout the United States and nearly 5,400 jobs right here in Minnesota. Biodiesel, which is the only advanced biofuel recognized by the Environmental Protection Agency, contributes approximately $1.7 billion in economic activities in Minnesota.
As a national leader in biodiesel, Minnesota needs to continue promoting the biodiesel industry and supporting in-demand jobs across the country.
Congress has traditionally renewed the tax credit for one or two years at a time, but allowed it to expire in 2017. The biodiesel industry has now waited 15 months for Congress to take action. A predictable, long-term tax incentive would be best for everyone. Right now, this two-year extension is desperately needed.
We hope Rep. Peterson will convince his congressional colleagues to follow his lead and support this vital piece of legislation.
Jamie Beyer farms in Wheaton and is a vice president of the Minnesota Soybean Growers Association