Gov. Tim Walz urged House Speaker Nancy Pelosi to extend the biodiesel credit in a letter the Governor issued late Thursday afternoon to the speaker’s Washington, D.C. office.
“The biodiesel incentive has lapsed over the past 14 months. Minnesota producers – already feeling financial stress from federal tariff decisions – will be greatly relieved by its reintroduction,” wrote Gov. Walz, who now chairs the Governors’ Biofuels Coalition. “I know this is of utmost importance to our producers across the United States.”
Minnesota Soybean Growers Association Vice President Jamie Beyer commended Gov. Walz for supporting the biodiesel tax credit.
Biodiesel contributes nearly $1.7 billion in economic activity in Minnesota, adds nearly 5,400 jobs statewide and adds an estimated 63 cents to every bushel of soybeans. The current use of B20 (20 percent biodiesel) blends in Minnesota has an effect equal to removing the emissions from 223,000 vehicles from the road each year.
“Our farmers thank Governor Walz for standing up for his constituents and defending biofuels,” Beyer said. “Hopefully Speaker Pelosi can work with her colleagues in Congress and find a solution to this impasse and extend the biodiesel tax credit.”