Iowa Biodiesel Board Applauds Grassley, Axne for Tax Extender Bill
May 25, 2021
(ANKENY, IOWA) – Sen. Chuck Grassley (R-IA) and Rep. Cindy Axne (D-IA) were among congressional leaders introducing bipartisan legislation to extend the federal biodiesel tax credit, a move applauded by the Iowa Biodiesel Board. Introduced in both the U.S. Senate and House today, the bill would extend the credit for additional three years, through 2025.
Grant Kimberley, Iowa Biodiesel Board executive director, issued the following statement:
“As the nation takes steps to reduce carbon and spur the economy with new jobs and upgraded infrastructure, we are encouraged to see Members of Congress recognize the valuable role biodiesel can play in all of these goals. Iowa has much to gain from a thriving biofuels industry, as it has become inextricably linked to our economic growth and the viability of our many farms. We are grateful to Sen. Grassley for his long-term leadership in advocating for stability in this vital biodiesel tax credit. We also thank Rep. Axne for embracing biodiesel, and for working to ensure it has a seat at the table for carbon reduction strategies now and in the future.”
Biodiesel and renewable diesel are on average 74% less carbon intensive than petroleum diesel and have cut more than 140 million tons of carbon emissions since 2010, according to the National Biodiesel Board. A new study also confirms biodiesel’s positive health impacts, reducing emissions of particulate matter which influence cancer rates, asthma and other respiratory diseases, as well as the associated healthcare costs.
For more information on biodiesel, visit Iowabiodiesel.org.