U.S. Sens. Grassley, Klobuchar propose new bill for ethanol recovery

The biofuels industry has praised a new bill from U.S. Senators Chuck Grassley and Amy Kolbuchar.

The measure would require the USDA to reimburse biofuel producer for their first quarter 2020 feedstock purchases through the CCC. Growth Energy CEO Emily Skor says that the proposal would deliver immediate result and is the answer to numerous request for assistance.

Sen. Grassley says that the bill serves as a guideline for broader legislation.

“It’s to lay down a marker, that if we’re doing something for oil companies, we ought to be doing something for ethanol,” he said. “We haven’t started to put together the stimulus bill, but this is laying down a marker for when we do.”

Another bill is not likely to be considered for another month or two. In the meantime, more than 130 biofuel plants are partially or fully shutdown.