Grassley, Klobuchar introduce biofuels bill
Sens. Chuck Grassley, R-Iowa, and Amy Klobuchar, D-Minn., introduced a bill to require the Agriculture Department to reimburse biofuel producers for their feedstock purchases from Jan. 1 through March 31 through the Commodity Credit Corporation.
“The biofuels industry works directly with our farmers. And the current disruptions from the pandemic have created ripple effects, including steep declines in corn and soybean prices,” Grassley said.
“We need to continue to support those farmers who feed and fuel our country and the world. This bill will help ensure biofuel producers survive this economic downturn and also ensure corn and soybean farmers have a place to sell their products.”
“At a time when many farmers and rural communities are feeling disproportionate impacts from the coronavirus pandemic, it’s important we work to keep our renewable fuel industry strong,” Klobuchar said.
“Renewable fuel processing plants employ thousands of people in rural areas, purchase billions of bushels of commodities from farmers, and provide stability in our agricultural supply chain. This legislation will ensure farmers and workers receive our support during these tough times.”
Growth Energy CEO Emily Skor praised the bill, saying, “After the devastation created by COVID-19, it’s vital that Congress and the U.S. Department of Agriculture ensure that biofuel plants stand ready to restore production and reopen markets for America’s farmers. Unless Washington acts, we’ll be trying to rebuild the rural economy with one arm tied behind our back.”
“The COVID-19 pandemic has had devastating effects on the U.S. ethanol industry,” RFA President and CEO Geoff Cooper said.
“Tens of thousands of good jobs in rural communities are in jeopardy as fuel demand has plummeted and scores of ethanol plants have been forced to shut down. Fortunately, Sens. Grassley and Klobuchar are watching out for the 350,000 men and women whose jobs are supported by the ethanol industry. The legislation they introduced today would lend a vital helping hand and assist renewable fuel producers as they attempt to get back on their feet.”
American Coalition for Ethanol CEO Brian Jennings added, “We need direct assistance to help the U.S. biofuel industry survive this catastrophic downturn, and their legislation would do that.”