Farmers and ranchers are urging congressional lawmakers—recently returned to Capitol Hill for their lame duck session—to tackle several outstanding issues, including the extension of lapsed biodiesel and short line railroad tax incentives.
Tax credits for biodiesel, renewable biodiesel and second-generation biofuel, along with the alternative fuel vehicle refueling property tax credit, expired on Dec. 31, 2017. These cleaner-burning renewable fuels provide expanded markets for farm commodities.
Similarly, the tax credit for short line railroads, which farmers and ranchers depend on to deliver their products to market and to supply them with the inputs they need to run their businesses, also expired at the end of last year. The tax incentive for track maintenance helps to upgrade and continue local rail service that connects over 10,000 rail customers to the national mainline rail network.