American soybean farmers are responsible for the creation and passage by Congress of the federal Biodiesel Tax Incentive that is so important to the biodiesel industry. Soybean farmer-leaders continue to support the biodiesel industry through support for policies and programs and the state and national level.

Tax Incentive – the association supports a multi-year extension of the biodiesel tax incentive beyond 2011 as well as restructuring from a blenders credit to a production tax credit.  We urge Congress to work to extend the biodiesel tax credit and requests that Representatives and Senators cosponsor the stand-alone measures to extend the biodiesel tax credit when they are re-introduced in 2011.

Bioenergy Program – the association supports timely and effective implementation of the Bioenergy Program for Advanced Biofuels, as enacted under Section 9005 of the 2008 Farm Bill.  This program provides an important source of assistance to biodiesel producers seeking to compete in the market with the entrenched petroleum infrastructure. The association opposes cuts or rescissions to the Bioenergy Program and urges USDA to make all of the currently eligible funds available to producers in Fiscal Year 2011, as prescribed by the 2008 Farm Bill. 

Renewable Fuel Standard (RFS) – the American Soybean Association (ASA) continues to monitor and work with EPA and the biodiesel industry on implementation of the RFS2, related indirect land use issues, and proper life cycle analysis for soy biodiesel production.  ASA is opposed to efforts to delay or challenge the EPA’s implementation of the biomass-based diesel required volume obligations, which call for 800 million gallons in 2011 and one billion gallons in 2012.