Iowa’s congressional delegation secured significant provisions for Iowa’s agriculture and biofuels industry in their negotiations with U.S. House leaders as Republicans work to scale back federal spending. The lower chamber approved the Limit, Save, Grow Act of 2023 this week. It aims to eliminate nearly $4.8 trillion from the federal budget over the next decade and limit annual growth to one percent through 2033. Aspects of the bill will claw back unobligated COVID-related funds, block President Biden’s proposed student loan forgiveness plan, and raise the U.S. debt ceiling. Iowa’s representatives, including 4th District Congressman Randy Feensta, negotiated with House Speaker Kevin McCarthy through the process to ensure tax provisions for biofuels producers and farmers would be left unaltered. Feenstra says, “Our nation is nearly $32 trillion in debt, inflation remains at record highs, and our families and main street businesses continue to pay the price. Republicans have offered a responsible plan to slash $4.8 trillion from the federal budget and combat President Biden’s wasteful spending, crippling inflation, and tax-and-spend agenda.” Gov. Kim Reynolds commended the representatives’ work: “I want to thank Speaker McCarthy for working with the delegation to find a compromise that continues the conversation while recognizing the importance of biofuels to our country.” The bill has virtually no chance of making it to the president’s desk, as Democrats hold a 51-49 majority in the Senate.
