IBB News Releases
- Iowa Members of Congress Lead Charge for Biodiesel Tax Credit
Iowa Members of Congress Lead Charge for Biodiesel Tax Credit
February 11, 2019
(ANEKENY, Iowa) – Iowa’s biodiesel producers, farmers and fuel distributors are urging Congress to act swiftly on passage of the biodiesel and renewable diesel tax credit, which expired in 2017. Under the leadership of Rep. Dave Loebsack (D-IA), 44 U.S. representatives signed and delivered a letter to House leaders today, saying they “strongly support a multi-year extension of the incentive to provide the policy certainty necessary to help the biodiesel industry and rural economies continue to grow.”
Iowa Biodiesel Board Executive Director Grant Kimberley issued the following statement:
“We commend Congressman Loebsack for his outstanding leadership in spearheading the effort in the House to pursue the passage of a multiyear extension of the biodiesel tax credit. We also thank newly elected Representatives Cindy Axne and Abby Finkenauer for signing onto the House letter of support for this measure. We know new members have many interests competing for their attention, and we appreciate that they have quickly grasped the importance of biodiesel to their constituents and the state of Iowa.
“When it comes to biodiesel, we’re thankful our Iowa congressional delegation is of one bi-partisan mind. I urge the rest of Congress to follow suit. A funding package required by February 15, to avoid another government shutdown, provides a golden opportunity to include the biodiesel tax credit.
“Biodiesel is a critical industry for Iowa’s farmers, the environment and our economy. This is smart energy policy that supports American manufacturing jobs and energy independence. The tax credit has done everything it was originally intended to do—and should be continued to give the industry the policy stability it needs to thrive.”
Congressmen Steve King (R-IA) also signed onto the Dear Colleague letter. FUELIowa, the state’s fuel marketing trade association, urged its members to ask Congress to support the measure. The organization recently rebranded, removing “petroleum” from its name, to better reflect the wide variety of fuels its members offer.
Biodiesel is an advanced biofuel made from agricultural byproducts and co-products, such as soybean oil. The Iowa Biodiesel Board is a state trade association representing the biodiesel industry. For more information on biodiesel, visit Iowabiodiesel.org.