WASHINGTON – U.S. Sen. Chuck Grassley (R-Iowa) issued the following statement regarding today’s meeting with President Donald Trump, U.S. Sens. Joni Ernst (R-Iowa), Ted Cruz (R-Texas) and Pat Toomey (R-Penn.) and industry stakeholders.
“Both sides made their case and the only agreement was to look at economic studies for impact. No decisions were made. Low corn prices are already squeezing farmers’ bottom lines. If the RFS were undermined with a RIN price cap or waiver, that would be made even worse. Thousands of jobs in rural America could be lost. An emerging solution appears to be year-round E15, which would drive down RIN prices. After crossing the 15 billion gallon a year threshold, RIN prices would drop dramatically and remain low. And
studies prove it.”
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