ALEXANDRIA, Va., July 23,
2024 /PRNewswire/ -- NATSO, representing America's
travel centers and truck stops, SIGMA: America's Leading Fuel
Marketers, and the National Association of Convenience Stores
(NACS), commended a bipartisan group of lawmakers for introducing
the "Biodiesel Tax Credit Extension Act of 2024," which would
extend the biodiesel blender's tax credit. The legislation is
sponsored by Representatives Mike
Carey (R-Ohio),
Claudia Tenney (R-NY), Ann Kuster (D-NH.), and Rep. Mariannette Miller-Meeks (R-Iowa).
H.R. 9060 would extend the biodiesel tax credit for one year at
the blender level. Extending the biodiesel blender's tax credit
would immediately incentivize fuel retailers nationwide to buy and
blend more gallons of biodiesel, which is far better for the
environment than petroleum-diesel. Since 2004, the biodiesel
tax credit has effectively spurred fuel retailers to invest in the
necessary infrastructure to sell low-carbon alternative fuels while
encouraging consumers to buy renewable fuel blends due to their
lower cost. The biodiesel tax credit helps create jobs, reduce the
transportation sector's greenhouse gas emissions, and enables fuel
retailers to offer more competitively priced diesel fuel.
"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. "We commend
Representatives Carey, Kuster, Tenney and Miller-Meeks for
recognizing the critical role that renewable diesel and biodiesel
play in lower fuel costs for consumers by supporting an extension
of the Biodiesel Blender Tax Credit. We urge Congress to
extend this successful policy as soon as possible."
"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 applaud Congressman Carey for demonstrating leadership
on this issue and encourage all Members of Congress to support this
bill, which will extend fuel supply and incentivize fuel retailers
to invest in low-carbon alternative fuels at a cost that is
attractive to consumers."
A diverse group of stakeholders support this policy because it
lowers the price consumers pay to fuel their vehicles and heat
their homes.
Biodiesel historically has been the most widely consumed biofuel
for use in commercial trucking and represents the best opportunity
to reduce carbon emissions from the nation's commercial trucking
fleet for the foreseeable future.
The biodiesel tax credit lowers the price that truck drivers pay
for diesel fuel, which in turn lowers the cost of shipping and
therefore the price consumers pay for products that are moved by
truck. Extending the biodiesel tax credit will safeguard the
ability of motor carriers to reduce carbon emissions in the
nation's existing commercial fleets while lowering fuel prices and
the cost of goods for consumers.
The biodiesel blender's tax credit has worked successfully to
build a robust renewable diesel industry in the United States while decreasing carbon
emissions associated with transportation fuel. The U.S. biodiesel
and renewable diesel market has grown to approximately 4 billion
gallons in 2023 from roughly 100 million gallons in 2005.
Biodiesel and renewable diesel eliminated 15 million metric tons
of CO2 in California alone in
2020, the equivalent of taking more than 3 million passenger cars
off the roads. Compared with petroleum-based diesel, renewable
diesel and biodiesel reduce greenhouse gas emissions by up to 80
percent. The California Air Resources Board recently
underscored their important role in reducing carbon emissions,
announcing that renewable diesel and biodiesel constitute more than
half of the diesel supply in California.
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About NATSO, SIGMA and NACS
NATSO is the trade association of America's travel
plaza and truck stop industry. Founded in 1960, NATSO 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; conducts an
annual convention and trade show; and supports efforts to generally
improve the business climate in which its members operate. Contact:
Tiffany Wlazlowski Neuman, Vice
President, Public Affairs. 202-365-9459
SIGMA is the national trade association representing
the most successful, progressive, and innovative fuel marketers and
chain retailers in the United
States and Canada. Founded
in 1958 as the Society of Independent Gasoline Marketers of America
(SIGMA), SIGMA has become a fixture in the motor fuel marketing
industry. Representing a diverse membership of approximately 250
independent chain retailers and marketers of motor fuel, the
association serves to further the interests of both the branded and
unbranded segment of the industry while providing information and
services to members. For more information visit SIGMA.org.
NACS advances the role of convenience stores as
positive economic, social and philanthropic contributors to the
communities they serve. The U.S. convenience store industry, with
more than 153,000 stores nationwide selling fuel, food and
merchandise, serves 165 million customers daily—half of the U.S.
population—and has sales that are 10.8% of total U.S. retail and
foodservice sales. NACS has 1,900 retailer and 1,800 supplier
members from more than 50 countries.
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SOURCE NATSO, Inc.