IRFA Praises Iowa Leaders for Ensuring Biofuels Included in Latest Round of Economic Stimulus Legislation
May 12, 2020
Contact: Cassidy Walter
JOHNSTON, IOWA – Today the U.S. House of Representatives introduced a new round of legislation to provided economic relief in the midst of the COVID-19 pandemic, which explicitly included aid for U.S. biofuels producers.
In response, Iowa Renewable Fuels Association Executive Director Monte Shaw made the following statement:
“We thank Representatives Abby Finkenauer, Cindy Axne, and Dave Loebsack for working closely with House leaders to ensure biofuels were included in the latest legislation providing economic stimulus funding. Iowa’s biofuel producers are suffering great losses as Americans are staying home and fuel demand has plummeted. Over 40 percent of Iowa ethanol production remains offline and without immediate help losses will only deepen. Without economic help, many plants may face bankruptcy or lack the necessary resources to purchase corn when demand ultimately returns. We are eager to see this provision pass through Congress quickly as it will provide producers with a much-needed lifeline.”
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 over 4.5 billion gallons annually – including 34 million gallons of annual cellulosic ethanol production capacity – and 11 biodiesel facilities with the capacity to produce nearly 400 million gallons annually. For more information, visit the Iowa Renewable Fuels Association website at: www.IowaRFA.org.