Citing End-of-Year Tax Extender Uncertainty, Rep. Axne Introduces Amendment to Revive Biodiesel, Biofuel Tax Credits
Washington D.C. — Today, Rep. Cindy Axne (IA-03) and Rep. Abby Finkenauer (IA-01) submitted two amendments to H.R. 5377 that would revive the expired biodiesel tax credit and extend tax credits for Iowa’s second generation biofuels.
The amendments would support Iowa farmers, incentivize investment in green jobs, and finally revive essential tax credits after their expiration at the end of 2017.
“As the Congress considers bills this week to extend and adjust tax provisions, we are determined to fight for the investments that will support our farmers, rural communities, and good-paying green jobs,” said Rep. Axne. “At a time when Iowa farmers are facing hardship, Congress cannot ignore the importance of including these critical provisions.”
“The biodiesel tax credit is important for Iowa farmers, producers, rural small businesses, and hard-working families,” said Rep. Finkenauer. “From day one, I’ve been working with colleagues on both sides for the aisle, and in both the House and Senate to get bring this credit back. I have stressed to House leadership how important this credit is to the First Congressional District, and to the entire state of Iowa. While I wish this is something that would’ve been resolved during the last Congress, I will keep working to make sure I get this done for Iowans. Today’s amendments are another push to get that done.”
As a member of the Biofuel Caucus, Rep. Axne has been fighting for the biodiesel tax credit since coming to Congress.
In her first full month representing Iowa, Rep. Axne joined the entire Iowa Democratic delegation to call for a multi-year extension of the biodiesel tax credit.
In April, Rep. Axne introduced the Biofuel Tax Credit Bill to make the second generation biofuel producer tax credit permanent.