Users of biodiesel may soon pay less for the environmentally friendly fuel due to the U.S. Senate’s approval of a biodiesel tax incentive. Structured as a federal excise tax credit, the incentive will lower the cost of biodiesel to consumers in taxable and tax exempt markets, according to The Corn and Soybean Digest. This credit equals a penny per percentage point of biodiesel blended with petroleum diesel. Based on USDA estimates for future soybean production – a key ingredient in biodiesel production – farmers could save nearly $1 billion collectively over five years. Biodiesel works in any diesel engine with little to no modifications needed. More than 400 fleets use biodiesel in the United States and about 1,000 petroleum distributors carry it nationwide. This renewable fuel offers similar fuel economy and horsepower to petroleum-based diesel while reducing carbon monoxide and carbon dioxide emissions.