Miller-Meeks, Carey Introduce Bill to Unleash American Energy and Boost Iowa Biofuels
WASHINGTON, D.C. – U.S. Representatives Mariannette Miller-Meeks (R-IA) and Mike Carey (R-OH) introduced legislation to extend critical tax incentives that support Iowa’s biofuels industry and advance American energy independence.
“Iowa’s biofuels industry powers America and supports thousands of good-paying jobs across our state. We lead the nation in renewable fuel production, and it’s time our tax code reflected that strength. By extending tax incentives for biodiesel and second-generation biofuels," said Miller-Meeks. "We’re delivering certainty for Iowa farmers and producers and furthering President Trump’s America First agenda for energy dominance. I’m proud to lead this effort during Renewable Fuels Month and will keep fighting to get this bill to the President’s desk.”
“Biodiesel is a homegrown resource that can support our long-term energy independence and support farmers, producers, and energy workers right here in Ohio,” said Rep. Carey. “With America’s energy dominance at stake, we’re working to strengthen our supply of biodiesel for years to come.”
“With the continued delay in the implementation of the 45Z tax credit, extending the 2nd Generation Biofuel Producer Tax Credit for two years is a much-needed bridge to a new tax regime, and would provide some certainty for many ethanol producers across this country,” said RFA President & CEO Geoff Cooper. “We applaud Reps. Miller-Meeks and Carey for taking action to protect the market for cellulosic ethanol made from grain fiber, which is the lowest-cost, lowest-carbon liquid fuel available in the marketplace today.”
Background:
Iowa leads the nation in both ethanol and biodiesel production. These renewable fuels are primarily made from Iowa-grown corn and soybeans and emit significantly less carbon than petroleum-based fuels—cutting emissions by over 70% in many cases.
The Biodiesel Tax Credit and Second-Generation Biofuel Producer Tax Credit support innovation, reduce emissions, and create rural jobs by incentivizing the production and blending of renewable fuels. The bill has earned support from national industry leaders, including the American Trucking Associations, Renewable Fuels Association, and Clean Freight Coalition.
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