Growth Energy, the US’s largest ethanol association, has welcomed enactment of legislation extending and modernising Iowa tax incentives for higher biofuel blends.
The new law, signed by Governor Kim Reynolds, reduces the per-gallon excise tax on E15 and higher ethanol blends and B11 and higher biodiesel blends through 2026.
“The tax update offers a welcome source of market certainty for Iowa biofuel producers and our farm suppliers, who have faced unprecedented economic challenges in the wake of COVID-19,” said Emily Skor, CEO of Growth Energy.
“We applaud Iowa lawmakers for crafting bipartisan legislation that can serve as an example for lawmakers nationwide seeking to support rural communities, save motorists money at the pump, and promote low-carbon fuels that keep our air clean.
“Smart tax policies like these are a proven strategy for accelerating infrastructure investments, creating rural jobs, and expanding consumer access to E15 and other higher biofuel blends.”
Growth Energy represents producers and supporters of ethanol working to bring consumers better choices at the fuel pump, grow America's economy and improve the environment for future generations.
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