Today, a renewable fuel expert affirmed to Rep. Cindy Axne (IA-03) and her colleagues on the House Agriculture Committee that the biofuels provisions included in the Build Back Better Act will benefit Iowa’s biofuel sector and its rural communities.
Over the past year, Rep. Axne fought to secure more than $1 billion in biofuels-related provisions in the comprehensive legislation that is set for a vote in the U.S. House this week.
“As we work on solutions to address the climate crisis, it's absolutely imperative that we utilize the tools that we have in rural America,” said Rep. Axne. “One of our best solutions we have is the use of biofuels in our transportation sector. What kind of benefits can we expect from the billion dollar investment in biofuels infrastructure within the bill?”
“This would be the largest investment in higher-blend infrastructure we have seen to date, it really would unleash the power of biofuels,” said Emily Skor, CEO of Growth Energy. “It gives us the ability to work with our retail partners to accelerate the market inclusion of E15, which is a lower cost, lower carbon, higher value fuel choice for consumers… It's great for American drivers, and it's certainly great for the rural economy.”
Rep. Axne also emphasized her commitment to seeing bipartisan legislation to allow for year-round sale of E15 blends of ethanol signed into law – a measure that she helped introduce earlier this year.
You can watch the full exchange from the hearing here.
The Build Back Better Act includes:
- $1 billion in funding for the U.S. Department of Agriculture to provide grants over the next 10 years to expand biofuel pump infrastructure, upgrade existing tanks and pumps, and increase usage of higher blends of ethanol and biodiesel.
- That investment is double the amount originally proposed by Axne in her Renewable Fuels Infrastructure Investment and Market Expansion Act, which she introduced in March.
- A four year extension of the biodiesel tax credit, which was set to set to expire at the end of 2022 after being revived in December 2019 by Rep. Axne and her colleagues.
- In May, Rep. Axne introduced bipartisan legislation to extend the biodiesel tax credit for three years.
- A new tax credit to support the creation and usage of Sustainable Aviation Fuel, opening a new and growing market for Iowa biofuels and biodiesel.
Axne repeatedly urged relevant House leaders to include biofuels investments in infrastructure discussions – and met with dozens of her House colleagues, including the committee chairs charged with agriculture, tax, and climate policies, to make the case for biofuels.
Original source can be found here
