Baldwin: Inflation Reduction Act not the end for Defend the Blend Act
A Wisconsin Senator says the newly-signed Inflation Reduction Act will help America’s biofuel producers.
Tammy Baldwin tells Brownfield some tax incentive provisions from the Defend the Blend Act were moved to the Inflation Reduction Act signed by President Biden Tuesday. “(There are) tax incentives for biodiesel and renewable diesel and ethanol. Also, there’s some focus on renewable aviation fuels. That’s a smaller piece but it’s also important. And, also biofuel infrastructure investments.”
Baldwin says the biofuel infrastructure investments are important because many fueling stations don’t have the ability to sell biodiesel blends and higher ethanol blends.
Baldwin tells Brownfield this new law does not mean an end to the Defend the Blend bill introduced last December. “It’s still out there, but we have gotten some of the provisions from that incorporated in the Inflation Reduction Act, but there’s some more to do and we won’t stop Defending the Blend.”
Baldwin says the tax incentives for biofuels will increase demand for ethanol and biodiesel and reduce the cost of energy for Americans.