IRFA Salutes Senator Grassley’s Leadership on Biodiesel Tax Credit
April 26, 2017
Press Contact: Cassidy Riley
WASHINGTON D.C. – Today Iowa Senator Chuck Grassley introduced bipartisan legislation to reform the federal biodiesel tax credit and extend the new policy for three years. The American Renewable Fuel and Job Creation Act of 2017, reforms the incentive by transferring the credit from the blenders to the producers of biodiesel. The switch ensures that the tax credit incentivizes domestic production and taxpayers aren’t subsidizing imported fuel. In response to Senator Grassley’s legislation, Iowa Renewable Fuels Association (IRFA) Executive Director Monte Shaw made the following statement:
“Once again, Senator Grassley is leading the fight to extend and reform the federal biodiesel tax credit. Taking these steps is vital to maximize the impact U.S. biodiesel producers can have on powering our economy, cleaning our air, and enhancing our energy security. IRFA thanks Sen. Grassley for his unrelenting work on leveling the playing field for U.S. biodiesel.”
The Iowa Renewable Fuels Association represents the state’s liquid renewable fuels industry and works to foster its growth. Iowa is the nation’s leader in renewable fuels production with 43 ethanol refineries capable of producing 4 billion gallons annually – including nearly 55 million gallons of annual cellulosic ethanol production capacity – and 12 biodiesel facilities with the capacity to produce over 350 million gallons annually. For more information, visit the Iowa Renewable Fuels Association website at: www.IowaRFA.org.