The biofuels industry wants to be included in the next round of federal COVID-19 relief and they just may get it. The HEROES Act, passed in the House, offers at least one solution for the biofuels industry. “There’s a program called the Renewable Fuels Reimbursement program, which would provide a direct payment of 45 cents per gallon to renewable fuel producers based on their production from January 1 through the end of April,” explains Geoff Cooper, CEO, Renewable Fuels Association. “A program like that would help offset those losses and get the industry back on its feet.” This week, all eyes are on the Senate and what’s included in their fourth relief package. “Senators Chuck Grassley and Amy Klobuchar introduced standalone legislation in late May to reimburse ethanol producers for feedstock purchases in the first quarter of the year. That would be helpful as well.” Despite the improvements in the weekly ethanol production reports, Cooper says the biofuels industry is still struggling in the COVID-19 pandemic. Read the RFA’s latest analysis.
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