Senators Chuck Grassley and Jodi Ernst of Iowa have introduced the Home Front Energy Independence Bill which would provide biofuel tax incentives for retailers and blenders to lower prices. Senate Bill 3787 would also authorize cost-share funding to expand biofuel retain infrastructure across the nation and remove barriers to allow more access to E15 and Unleaded 88 blends. Lance Lillibridge Iowa Corn Growers Association President says this bill helps address the immediate need for a cheaper option at the pump with gas prices skyrocketing.
He notes the production and usage of biofuels offer numerous benefits.
Regular gasoline is averaging $4.25 per gallon on Wednesday, according to AAA. A year ago, the average price for regular gasoline was about $2.80 per gallon.
