Bustos, Feenstra, Craig & Hinson Introduce Bipartisan Bill to Increase Biofuels Availability to Lower Fuel Prices

Statement

Today, U.S. Representatives Cheri Bustos (D-IL), Randy Feenstra (R-IA), Angie Craig (D-MN) and Ashley Hinson (R-IA) introduced the Home Front Energy Independence Act, which would expand the production and availability of American biofuels. In an effort to lower energy costs for working families and support economic growth in rural communities, Bustos joined the legislation following last week's vote to ban imports of Russian energy products.

Specifically, the Home Front Energy Independence Act would:

Make E15 available year-round
Establish an E15 Tax Credit and Extend the Tax Credit for Biodiesel
Direct the EPA to finalize their E15 labeling rule
Provide for biofuel infrastructure and compatibility with retailers
U.S. Senators Amy Klobuchar (D-MN) and Joni Ernst (R-IA) introduced companion legislation in the Senate last week.

"Vladimir Putin's invasion of Ukraine has brought to light the importance of energy independence and the value of domestic energy production here the United States. With the cost of this war hitting Americans at the gas pump, it's time to bolster our fuel supply with homegrown biofuels," said Representative Bustos. "Not only would this cut gas prices for consumers, but it would also reduce emissions and support our family farmers. I'm proud to join my colleagues on the bipartisan, bicameral Homefront Energy Independence Act to make E-15 available year-round."

"Iowans are paying the highest prices for gas in more than a decade, and there is no indication that the cost of fuel will decrease any time soon," said Representative Feenstra. "Fortunately, higher blend biofuels and E15 can lower fuel prices and end our reliance on foreign energy, but we can only achieve these goals by making E-15 available year-round. I'm proud to co-lead this bipartisan legislation with my House colleagues to do just that and thank Senator Ernst and Senator Klobuchar for introducing this bill in the Senate. By cutting red tape and unleashing American energy production, we can lower gas prices, bolster biofuels production, and make our country energy independent once again."

"E15 and higher blend biofuels can serve as a cheaper alternative for working families while helping to expand markets for family farmers, support economic growth in rural America and cut down on dangerous pollutants released into the air we breathe," said Representative Craig. "Especially as we work to lessen our dependence on foreign energy producers and hold Russia accountable for its unjustified invasion of Ukraine, our bipartisan legislation to prioritize home-grown domestic biofuels should be taken up without delay."

"The solution to the current energy affordability crisis that is squeezing working families across the country shouldn't come from Russia, Iran, or Venezuela--it has to come from America," said Representative Hinson. "The bipartisan Homefront Energy Independence Act will finally unleash the abundant domestic energy resources that we've been sitting on, including Iowa biofuels and allow the sale of E-15 year-round. This bipartisan solution will lower costs at the pump, bolster our fuel supply, and improve our national security."

The bipartisan legislation will also codify into law full restrictions on U.S. purchases of Russian oil until the president determines Russia recognizes the sovereignty and territorial integrity of Ukraine. The current excess ethanol capacity domestically is nearly the same as the amount of Russian gas the U.S. had been importing -- roughly 83 million barrels versus 87 million barrels.

The Home Front Energy Independence Act is supported by Growth Energy, the Renewable Fuels Association, Clean Fuels Alliance America and the National Corn Growers Association.