Wednesday, March 14, 2018

On March 14, Michael McAdams, President of the Advanced Biofuels Association (ABFA) welcomed the opportunity to testify before the House Ways and Means Committee at a hearing entitled “Post Tax Reform Evaluation of Recently Expired Tax Provisions.” In his testimony, McAdams recognized the challenging political climate surrounding the RFS program and its implementation and stressed to the Committee the paramount importance that the biodiesel and renewable diesel blenders credits be extended through 2018 at the earliest possible date.  “The credit works as intended when it’s prospectively in place, “ McAdams stated. “This cycle of uncertainty that causes lower biodiesel RIN values as we await the tax credit extension must be broken, and prospective certainty must be afforded for the credit to achieve its true economic punching power.”

His full testimony is available here.