Senators Chuck Grassley and Joni Ernst hosted a joint press conference this morning (Wednesday) to announce the introduction of a new bill that aims to replace Russian fuel imports with domestically produced biofuels. Grassley, Ernst, and Senator Amy Klobuchar of Minnesota plan to introduce the Home Front Energy Independence Act to expand biofuel access nationwide. Ernst says the bill also formalizes the ban on Russian oil and gas.
Yesterday (Tuesday), President Biden announced the White House’s ban on Russian imports and suggested electric vehicles (EVs) would be the path forward for American energy independence. However, Grassley says this plan only shifts the nation’s energy needs to other countries.
The Home Front Energy Independence Act will make E15 fuel available throughout the year, create biofuel tax credits, and create additional market demand for farmers nationwide. While Russian imports make up only a fraction of the nation’s total energy demand, the ban will create short-term supply issues, which are being reflected at the pump. Ernst says the biofuels industry can fill the difference almost immediately.
She adds the Home Front Energy Independence Act will have an equally swift effect on consumers.
Grassley says the bill could be passed into law and implemented quickly, but President Biden and Democratic leadership will largely determine that.
Senator Klobuchar is the lead Democratic sponsor of the Home Front Energy Independence Act with support from Senators Tammy Duckworth of Illinois, Roger Marshall of Kansas, Tammy Baldwin of Wisconsin, and Deb Fischer of Nebraska. The bill’s full text can be found included below.
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