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Your Participation is Requested to Support Tax Incentives for Renewable Diesel Production
Hello Team Geismar – We are asking for your help to urge your U.S. Senator, Sen. Cassidy, along with House members Rep. Garret Graves and Rep. Troy Carter, to support equal tax treatment of biofuels.  This will safeguard U.S. production of biobased diesel, which plays a major role in decarbonizing the U.S. transportation sector today.  We have made outreach efforts easy and you will find more information below.

The Issue
Congress is considering the large budget reconciliation package known as the “Build Back Better Act”.  Provisions in the bill extend the $1 per gallon blenders tax credit that both biodiesel and renewable diesel enjoy today and is a key element to help REG bring these low carbon fuels to the market.  However, the bill would also grant Sustainable Aviation Fuel (SAF) additional tax incentives that are much more generous than those offered for renewable diesel or biodiesel.  Today, most SAF, biodiesel and renewable diesel fuel are derived from the same feedstocks.  However, SAF typically has a greater carbon intensity than biodiesel or renewable diesel fuel because more energy is required to produce the fuel. 

Additional tax incentives afforded to SAF may likely result in feedstock diversion from biodiesel and renewable diesel to SAF which may limit value creation for renewable diesel produced at Geismar and also lead to an overall increase in greenhouse gas emissions. Over-incentivization of SAF could result in financial hardship for many of REG’s production facilities in the U.S.

Advocacy Campaign
We are urging all of you to contact Sen. Cassidy, Rep. Graves and Rep. Carter to ask that all lower carbon biofuels – SAF, biodiesel and renewable diesel – receive equal tax treatment under the Build Back Better Act.  We have made the process easy for you.  Through our VoterVoice Action Center off to the right, you will find a pre-drafted e-mail that you can send directly to your members of Congress. If you choose, you may also call these offices and we have provided a pre-drafted script for you as well.  Participation is by no means required but we urge you all to participate in this grassroots effort to keep fuel flowing from our U.S. production facilities.

Please contact Ezra Finkin, Senior Manager for Corporate Affairs & Development, at Ezra.Finkin@regi.com if you have any questions or concerns.

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