Johnston, IA - On March 6, at the Iowa Agriculture Leaders Dinner, Iowa farmers and biofuels leaders will thank USDA Secretary Sonny Perdue for his recent statements of support for the Renewable Fuel Standard (RFS) and urge him to fight Texas Senator Ted Cruz’s scheme to gut the RFS.
Adoption of the Cruz RFS waiver credit scheme would slash billions from farm income, devastating rural America.
Perdue is scheduled to attend the Iowa dinner to swear in former Iowa Secretary of Agriculture Bill Northey as a USDA Under Secretary and to meet with Iowa farm leaders.
Biofuels supporters in attendance plan to talk with Perdue on the detrimental effects Cruz’s 10-cent waiver credit scheme will have on Iowa farmers.
“There is no deal on RFS waiver credits or price caps that works for rural America,” said Delayne Johnson, CEO of Quad County Corn Processors in Galva.
“Cruz’s plan would likely cut ethanol demand by a billion gallons or more, all to the benefit of non-compliant refiners that are enjoying record profits.
"Secretary Perdue needs to help us convince the White House the real win-win solution is to allow year-round sales of E15, which would boost both ethanol blending and the availability of RFS credits (RINs) and therefore, reduce RIN prices.”
A study released today by the Center for Agricultural and Rural Development (CARD) at Iowa State University confirmed fears that the Cruz scheme would reduce ethanol demand and reduce corn prices by around 25 cents per bushel.
Bill Couser said farmers have a lot at stake in the fight to protect the RFS.
“In the face of low prices and record production, the RFS is the best tool to help drive additional demand for corn,” said Couser, a farmer and livestock producer from Nevada.
“After repeatedly promising to support the RFS, it would be a huge shock if President Trump sided with Ted Cruz on this.
"And that shock could easily turn to anger as farm income is cut by billions and rural America slides deeper into difficult economic times.”
For more information, please contact Cassidy Walter at 515-252-6249.