In Oklahoma, Kosu reported that a congressional bill proposed by Midwestern representatives from both parties is aimed at spurring innovation in biofuel technology and increasing its production.
The report noted that the Agriculture Biorefinery Innovation and Opportunity Act, or Ag BIO Act, would increase funding for innovation in the biofuels and bioproducts industry. Reps. Zach Nunn, R–Iowa, and Nikki Budzinski, D–Illinois, introduced the legislation in November.
The proposed bill would revise an existing grant and loan program for biobased manufacturing run by the USDA’s Rural Development office, and in the House version of the bill, increase its annual funding to $100 million a year for the next five years from its current $75 million a year, the report added.
“The Ag BIO Act will eliminate bureaucratic red tape that is driving up energy costs by making it harder for biofuels producers to innovate and expand their manufacturing capacity,” said Rep. Nunn, the bill’s chief House sponsor.
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Tags: Ag BIO Act, USDA RD
Category: Policy
