Source: POLITICO'S MORNING AGRICULTURE, 11/28/18

A sweeping tax package released by House Republicans on Monday night includes a four-year extension of the $1-gallon biodiesel tax credit, including a three-year step-down lasting through 2024. The National Biodiesel Board is thrilled to get the credit into the extenders bill — but it had hoped for something a bit more lasting.

"We had been asking for some level of permanence, rather than termination in 2024," said Paul Winters, a spokesperson for NBB. But the deal was likely negotiated with Sen. Chuck Grassley(R-Iowa), Winters said. "We think it's the best proposal we're going to see in the near term."

Grassley, who will chair the tax-writing Senate Finance panel in January, said he worked with House Ways and Means Chairman Kevin Brady (R-Texas) to get a biodiesel agreement. "It seems to me he's been very open to giving a long-term phaseout of biodiesel," Grassley said of Brady on a conference call with reporters.

— More goodies for ag: Grassley also name-dropped a tax credit for railroad bed improvements that would be permanently extended under the House legislation — also a boost for Iowa ag interests. "That credit is going to be made permanent but at a slightly lower rate than what is in existing law," he said.