DES MOINES, Iowa — Iowa’s renewable fuels producers depend on federal subsidies for their survival, Senator Chuck Grassley told WHO 13 Wednesday. U.S. House Republicans had looked at a plan that would cut some federal renewable fuels credits as part of a proposal to President Joe Biden in exchange for raising the federal debt ceiling.
Iowa’s four members of the U.S. House met with Speaker Kevin McCarthy Tuesday night. On Wednesday, as details emerged of a compromised proposal, they showed that subsidy cuts were eliminated from the plan.
Representatives Mariannette Miller-Meeks (1st District), Ashley Hinson (2nd District), Zach Nunn (3rd District) and Randy Feenstra (4th District) released a joint statement:
“The biofuels industry drives the Iowa economy and is vital to our nation’s energy security. We are proud to deliver a major victory for this industry and our whole state in these negotiations.”
“Since this proposal was unveiled, our delegation has stood united for Iowa’s farmers and producers fighting to amend the bill to protect biofuels tax credits. Having successfully amended the bill to protect funding for these tax credits, our delegation will vote for this legislation, which is a starting point to avoid a default and cut wasteful spending. As negotiations continue, we have made it crystal clear that we will not support any bill that eliminates any of these critical biofuels tax credits.”
“Iowa farmers and producers feed and fuel the world, and we will always have their backs. Now, it is past time for President Joe Biden to stop playing politics with our nation’s fiscal health, which means working with us to cut wasteful spending and prevent a catastrophic default.”
Republican presidential candidate Vivek Ramaswamy said he wants to cut federal subsidies for Iowa’s renewable fuels producers.