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Cut in Biofuels Tax Credits Shocks Iowa Renewable Fuels Association

Cut in Biofuels Tax Credits Shocks Iowa Renewable Fuels Association

Photo: WNAX


The Iowa House Appropriations Committee has sent forward a tax reform measure that cuts tax credits for biofuels. Iowa Renewable Fuels Association Executive Director Monte Shaw says the bill is a measure that targets biofuels tax credits in the guise of reforming taxes.

He says state lawmakers and the Governor supported the biofuels tax credits in legislation approved last year.

Shaw says the bill is now headed to the House Ways and Means Committee.

The legislation that passed the House Appropriations Committee caps the amount of credits on an annual statewide basis for E15, E85 and B11.