USDA Announces Availability Of $800 Million To Assist Biofuel Producers And Restore The Renewable Fuels Market
On December 7, 2021, the U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced that USDA is making $800 million available to support biofuel producers and improve infrastructure affected negatively by the COVID-19 pandemic. Funds will become available through USDA’s new Biofuel Producer Program authorized by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). USDA hopes that $100 million of the total amount available will increase significantly the sales and use of higher bioethanol and biodiesel blends through the expansion of the infrastructure for renewable fuels derived from U.S. agricultural products. Secretary Vilsack stated that [u]nder the leadership of President Biden and Vice President Harris, USDA is providing direct relief to the people of rural America who are still reeling from the economic impacts of the pandemic.” He also reported that USDA is targeting resources and investments to improve the strength and resiliency of America’s sustainable fuel markets.