Several provisions within the new Inflation Reduction Act will benefit the U.S. ethanol industry and the communities it serves, the Renewable Fuels Association noted in an initial review of the lengthy legislation.
“At long last, we are pleased to see the new Senate bill on climate change, which recognizes the important role renewable fuels like ethanol can play in a lower-carbon future for this nation,” said RFA President and CEO Geoff Cooper. “Specifically for ethanol producers, the legislation includes provisions that provide funding for clean fuel production, higher biofuel blend infrastructure, enhanced opportunities for ethanol to play a greater role in sustainable aviation fuel, and carbon capture, utilization and storage.”
Cooper noted that RFA members pledged last summer to reach net-zero carbon emissions by 2050 or sooner, and that remains a priority for the organization.
“We’re committed to working with our Congressional champions on both sides of the aisle to ensure the final legislative package supports our members’ efforts to provide American families with lower-cost, lower-carbon fuels that are sourced in America’s heartland and bolster energy security,” Cooper said. “Ethanol has a great story to tell as an important part of the rural economy, creating and supporting hundreds of thousands of jobs, while also reducing emissions and lowering costs to drivers.”