Washington, DC — Iowa’s and South Dakota’s U.S. Senators are seeking assistance for the region’s ailing biofuels industry.
Senators John Thune and Mike Rounds of South Dakota and Chuck Grassley and Joni Ernst of Iowa joined eleven other Senators in a bipartisan letter sent to the U.S. Department of Agriculture requesting additional funds be allocated to the biofuel industry through the Commodity Credit Corporation, or “CCC.”
The Senators wrote in the letter to USDA Secretary Sonny Perdue: “As the country follows the advice of local and state governments and remain at home, motor fuel use has rapidly decreased . . . The decrease in fuel consumption has left production facilities little choice but to idle production or close completely.”
The letter goes on to say, “We have seen a significant drop in the price of corn and soybeans because of the decline in demand. Keeping plants open is vital for our states and we ask that you use the authority given by Congress to assist the biofuel industry during extremely difficult times.”
Ernst notes that the Coronavirus Aid, Relief, and Economic Stabilization — or “CARES” Act provided an additional $14 billion to the CCC to help stabilize, support and protect farm income and prices while also maintaining balanced and adequate supplies of agricultural commodities.
This story is from our news partner, KELO Radio.
