The biofuels industry has faced nothing but question marks in the past months and years. Whether it is exemptions granted to big oil companies against the Renewable Fuels Standard or it is the future of the industry in the plans of the Biden Administration to clean up the environment. Earlier this week, the industry did get some good news. After many battles, the House finally added support for biofuels infrastructure in the highly debated Build Back Better Plan. This funding is to the tune of $1 billion.
Iowa 3rd District U.S. Congresswoman Cindy Axne fought to get much-needed funding for upgrades to the biofuel infrastructure. She originally had lobbied for around $500 million. This more than doubles that request.
Axne said she believes there is enough support to keep this part of the bill intact. The Congresswoman has been working to educate her colleagues on the benefits of biofuels.
This biofuels piece is only a part of the roughly $3.5 trillion Build Back Better Plan. A price tag that Republicans, including members of our own Iowa Delegation, have said is too high. Axne, the lone Democrat in the Iowa group, says the price tag is in line with the amount of investment that is needed to keep America on an equal playing field with China and other countries that are working hard to improve their own infrastructures.
Axne describes what she has heard in her own district, and what this bill does to address those concerns in Iowa. She says this is being funded on the “Jeff Bezos of the world who historically pay little to no taxes.”
Axne remarked that it has been almost a century since the last time America invested this much into itself. It is our generation’s “New Deal.”
The Build Back Better Plan has already begun making its way through House committees. It still must be debated and passed on the House floor, and then reconciled with the Senate version of the infrastructure bill that was passed last month.