Biodiesel Tax Extender Huge Win for Iowa Soybean Farmers

12/17/19

Statement Courtesy of ISA President Tim Bardole who farms near Rippey, Iowa

“After nearly two years of policy uncertainty surrounding the biodiesel tax incentive, soybean farmers and biodiesel producers are ending the year on a much higher note. Following this record period of expiration, the introduction of a spending bill includes a much-needed multiyear extension of the tax incentive.

“Iowa soybean farmers have worked tirelessly, taking time away from their families and operations to travel, pen letters and share personal stories with key policymakers in support of a long-term solution. In difficult times, the tough get going. Farmers made sure the benefits of the tax incentive were heard loud and clear.

“Biodiesel adds value to every bushel of soybeans. With passage, the tax incentive extension would bring certainty to Iowa’s soybean farmers and biodiesel producers, which will help expand markets and drive additional soybean demand.

“The Iowa Soybean Association is grateful for Iowa Senators Grassley and Ernst for their steadfast leadership and tremendous support, as well as Representative Finkenauer for championing the tax incentive in the U.S. House. We appreciate Representatives Axne and Loebsack for the continued support.”

The Iowa Soybean Association (www.iasoybeans.com) is “Driven To Deliver” increased soybean demand through market development and new uses, farmer-focused research and results, timely information and know-how and policy initiatives enabling farmers and the industry to flourish. Founded in 1964 by farmers to serve farmers, ISA is governed by a board of 22 farmers to advocate on behalf of the state’s 40,000 soybean producers, including more than 12,000 ISA farmer members and industry stakeholders.