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Iowa delegation says debt ceiling bill supports biofuels industry

Iowa’s congressional delegation backed the debt ceiling bill in the House Wednesday, but only after some changes to the legislation that supported the biofuels industry.

Republican Congresswoman Ashley Hinson says the Limit, Save, Grow Act of 2023 keeps some key biofuels tax credits in place.

“When the legislation came out last week and I saw there were five key biofuels tax credits set to be rolled back, we sprung into action and got right to work,” she said. “The entire Iowa delegation was in lock step to protect Iowa biofuels.”

Speaking with reporters on Friday, she said the tax credits are important for meeting climate goals.

“The biofuels industry supports tens of thousands of jobs in Iowa,” Hinson said. “It’s not only critical to our economy, but to our nation’s energy security.”

The bill raises the debt limit but also cuts back federal spending.