Illinois Soybean Association commends congressional delegation for bipartisan support of biodiesel tax credit

The Illinois Soybean Association commended members of the Illinois congressional delegation June 6 for their steadfast bipartisan support of the biodiesel blenders tax credit (40A), a critical measure that strengthens America’s biofuels fuel industry while supporting Illinois soybean farmers.

Reps. Mike Bost and Darin LaHood, Republicans, as well as Nikki Budzinski and Eric Sorensen, Democrats, have all signed onto H.R. 3137, which was introduced by Reps. Mike Carey, R-Ohio, and Mariannette Miller-Meeks, R-Iowa, May 1.

The bipartisan legislation, which extends the biodiesel and renewable diesel blenders tax credit, represents a crucial investment in America’s energy independence and commitment to soybean farmers and rural communities across the Midwest, ISA stated.

As the nation’s top soybean-producing state, Illinois stands to benefit significantly from this extension, which ensures the state’s biofuel refiners stay open, retain good-paying jobs and continue to contribute to local and state economies.

“Southern Illinois farmers play a vital role in powering our nation forward—not just with food, but with fuel,” Bost said. “I’m proud to help lead the effort to extend the biodiesel and renewable diesel blender tax credits, which supports good-paying jobs, strengthens energy independence, and protects the market for Illinois-grown soybeans. This bipartisan bill gives our biofuels producers the certainty they need to keep investing in rural communities and delivering American-made energy.”

Budzinski added, “Soybeans are a cornerstone of Illinois’ economy, and few issues are more critical to our state than strengthening the biofuels industry and expanding market opportunities. I am proud to support this legislation, which extends the federal tax credit for biodiesel producers and encourages continued investment in renewable fuels. We owe it to our farmers to help them stay competitive and provide certainty in these uncertain economic times.”

LaHood said, “Representing one of the largest corn- and soybean-producing districts in the nation, I know how critical biofuels are to the agriculture industry. The Biodiesel Tax Credit Extension Act will provide more certainty and opportunities for farmers, producers and rural communities throughout the state. I am proud to join my colleagues in supporting this legislation to invest in the future of Illinois agriculture and American energy independence.”

Sorensen added, “Illinois farmers work hard to feed and fuel our country, and they deserve a fair shot in the marketplace. This bill helps keep demand strong for biodiesel made from soybeans grown right here in Illinois and provides stable markets for farmers. It’s a smart, bipartisan fix that supports good-paying jobs, strengthens our rural economy and helps us keep moving toward cleaner energy.”

ISA Chairman Ron Kindred said, “We’re grateful to our representatives in Congress for recognizing the importance of this measure. Their strong bipartisan support demonstrates their commitment to Illinois farmers and economic stability for our rural communities.”

The 40A blenders tax credit supports biodiesel and renewable diesel production, which creates significant demand for soybean oil and provides stable markets for Illinois soybean farmers, ISA stated.

“This tax incentive helps level the playing field with petroleum-based fuels, making clean, renewable biodiesel more competitive in the marketplace,” the association said.

Illinois produces more than 600 million bushels of soybeans annually, and Illinois’ biodiesel industry, which is the fourth-largest in the nation with an annual production of approximately 192 million gallons a year, supports nearly 2,000 jobs in all sectors of the state’s economy.

“The extension of this tax credit will help provide certainty for both farmers and biodiesel producers, allowing for continued growth and investment in the sector,” ISA stated.

The bill has earned support from the American Trucking Associations, Clean Freight Coalition, Energy Marketers of America, Illinois Soybean Association, National Association of Convenience Stores, National Energy & Fuels Institute, NATSO, Renewable Fuels Association, Sustainable Advanced Biofuels Refiners Coalition, SIGMA: America’s Leading Fuel Marketers, National Tank Truck Carriers, and Truckload Carriers Association.