The bipartisan House Biofuels Caucus today sent a letter urging Secretary of Agriculture Sonny Perdue to utilize funds made available to USDA as part of the recently passed CARES Act to assist ethanol producers who are suffering severe economic harm as a result of the COVID-19 global pandemic.
“The biofuels sector provides a direct and significant boost to the value of corn and soybeans,” said the letter signed by 32 U.S. Representatives. “Ethanol plants purchase two out of every five bushels of U.S. corn and biodiesel producers use over 8 billion pounds of soybean oil a year. Ethanol plants produce dried distillers grains (DDGs) as a byproduct, providing livestock farmers with a low-cost, high-protein component of animal feed.”
Renewable Fuels Association (RFA) President and CEO Geoff Cooper thanked the caucus members for their support of the industry. “The thirty-two Members of Congress who signed this letter recognize the important role ethanol plays in the economic stability of rural America, and they understand it is a necessity to support farmers and commodity markets by allowing funds recently allocated to USDA to protect the ethanol industry’s workforce. Even as gasoline demand is devastated by national and global stay–at–home orders, ethanol remains the single most important value-added market for farmers. We cannot allow this critically important industry to be further imperiled, and these House members should be applauded for their efforts to protect the 350,000 jobs supported by the ethanol industry.”