# Urgent: Ask Congress to Renew Tax Incentive — NC Soybean Producers Association

> The National Biodiesel Board urged Congress to pass a multiyear extension of the expired biodiesel and renewable diesel tax credit before the end of 2018. It cited the Brady tax package, which would keep the $1.00 per gallon credit through 2021 and then taper it to $0.033 by 2024.

- Date: 2018-12-06 · published 2018-12-06T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/61464-urgent-ask-congress-to-renew-tax-incentive-nc-soybean-producers-association
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Renewal of the credit would keep biodiesel margins and feedstock demand intact, supporting soybean oil prices, while failure to act leaves that demand at risk.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2018-10-11 | [ASA pushes for extension of biodiesel tax incentive - American Soybean Association](https://feedsoft.ai/events/62412-asa-pushes-for-extension-of-biodiesel-tax-incentive-american-soybean-association.md) | +3.2% | -1.6% |
| SBO | 2019-03-26 | [Congress to extend biodiesel tax incentive](https://feedsoft.ai/events/59976-congress-to-extend-biodiesel-tax-incentive.md) | -0.9% | -2.6% |
| SBO | 2019-03-27 | [National Biodiesel Board urges Congress to extend biodiesel tax incentive - Biofuels International Magazine](https://feedsoft.ai/events/59978-national-biodiesel-board-urges-congress-to-extend-biodiesel-tax-incentive.md) | +1.1% | -2.5% |
| SBO | 2018-08-23 | [ASA Submits Comments to EPA on Proposed RFS Rule - American Soybean Association](https://feedsoft.ai/events/63408-asa-submits-comments-to-epa-on-proposed-rfs-rule-american-soybean-association.md) | -0.7% | -2.2% |
| SBO | 2020-01-09 | [Argentine soybeans facing tax increases \| The Western Producer](https://feedsoft.ai/events/54929-argentine-soybeans-facing-tax-increases-the-western-producer.md) | -2.8% | -8.8% |

## Sources

- ncsoy.org: https://www.ncsoy.org/news/article/urgent-ask-congress-to-renew-tax-incentive

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.