IBB News Releases
- Iowa Biodiesel Producers, Farmers Hail Tax Extender Deal
Iowa Biodiesel Producers, Farmers Hail Tax Extender Deal
December 17, 2019
(ANKENY, Iowa) –The Iowa Biodiesel Board today praised Congressional champions for introducing a five-year extension of the federal biodiesel tax incentive. If passed, the bill would provide desperately needed relief to biodiesel producers in Iowa and beyond, who have endured years of uncertainty and loss. Grant Kimberley, executive director of the Iowa Biodiesel Board and Iowa Soybean Association director of market development, issued the following statement:
“If passed, Congress’s five-year biodiesel tax credit extension would come just in the nick of time to save thousands of jobs connected to biodiesel production. This is exactly what we need to foster steady, predictable growth of biodiesel.
“The past two years have been a dark and difficult period for the biodiesel industry. Market dynamics have assumed the government would live up to its commitment, which put producers in the position of selling biodiesel at a loss. Not only would this save more plants from closing – it would set the stage for a biodiesel renaissance, and give agriculture a much-needed boost, too.
“We express the utmost gratitude to Sen. Chuck Grassley, our most ardent champion, for fighting for this policy. The entire U.S. biodiesel industry owes him our humble thanks for his leadership. Sen. Joni Ernst also deserves our heartfelt gratitude for her persistence. All of Iowa’s U.S. Representatives played a major role in getting us to this point – in particular, we thank freshman Rep. Abby Finkenauer, who made this a top political priority, sponsoring bills and organizing letters, fighting to keep this bipartisan energy policy in front of democratic leadership alongside Rep. Dave Loebsack, another longtime champion. Rep. Cindy Axne, another freshman democrat, also showed tremendous leadership and commitment.”