Renewable Energy Group, Inc. (NASDAQ:REGI) President and CEO Daniel J. Oh issued the following statement after U.S. House and Senate passage of tax extenders legislation which contained a retroactive reinstatement of the $1 per gallon biodiesel mixture excise tax credit from January 1, 2015 through December 31, 2016:
“We at REG are pleased and thankful that Congress has approved a retroactive reinstatement and extension of the biodiesel tax credit. With the President’s signature, this worthwhile incentive, combined with higher RFS2 biomass-based diesel volumes, will reinforce our company’s continuing growth by encouraging higher blends and usage of advanced biofuels throughout North America. It provides multiple benefits through enhancing our environment, energy and food security and local economies.”
“We owe a large debt of gratitude to our bi-partisan congressional champions, in particular Senator Charles Grassley and Senator Maria Cantwell. Their commitment to our industry has been constant and unwavering. We will continue to work with them and our industry partners to advocate for a conversion to a producer’s tax credit in the future because we believe that is how this credit should be structured.”
