On Tuesday, Gov. Kim Reynolds announced a $7 million boost to the Iowa Renewable Fuels Infrastructure Program (RFIP) as she signed legislation that extended the fuel tax incentive for diesel blends. Iowa Soybean Association (ISA) President, Tim Bardole of Rippey, says this is a big win for Iowa soybean farmers. “The COVID-19 pandemic brought an entirely new set of challenges to the renewable fuels markets. Increasing the RFIP program will only spur additional private investment, help boost soybean demand at a critical time, offer higher biodiesel blends at more fueling stations and increase consumer choice and savings at the pump,” Bardole says. The legislation is aimed at driving additional demand for diesel blends that contain at least 11 percent soy-based biodiesel. Since the biodiesel fuel tax incentive was introduced, B11 and higher blends have grown to make up 57 percent of sales in 2019. This additional funding will help fuel distributors upgrade equipment for biodiesel blends.
