CRA Supports New Legislation to Spur Biomanufacturing Investment

March 31, 2026

WASHINGTON, D.C. - Corn Refiners Association President and CEO John Bode released the following statement after Reps. Michelle Fischbach (R-MN) and Nikki Budzinski (D-IL) showed bipartisan leadership to introduce the Biobased Materials Investment and Production Act. The bill would spur critical investment in the American ag bioeconomy and the rural communities it supports.

"The U.S. corn refining industry plays a critical role in transforming American-grown crops into the ingredients and biobased materials that support food, agriculture, and a growing bioeconomy. This legislation recognizes the importance of domestic manufacturing and provides the certainty needed to invest in new technologies and facilities that expand the production of renewable chemicals and materials," said Bode. "By strengthening U.S. supply chains and supporting innovation, Congress can help ensure America remains a global leader in biobased manufacturing while delivering economic benefits for farmers, workers, and communities across the country."

BACKGROUND
Corn refiners use about 10% of the nation's corn crop to convert the outstanding productivity of the American farmer into hundreds of products with thousands of uses. Those uses include a growing list of bioindustrial applications that diversify demand for the American corn industry and offer consumers a diverse array of options, including replacing familiar fossil-based products with plant-based alternatives.

The Biobased Materials Investment and Production Act would offer tax incentives to expand production capacity for plant-based products in the U.S., offering strong markets for American producers, a wider array of product options for consumers, and critical support for domestic innovation.

The incentives would equal $0.10 per pound of qualified renewable products or a 30% investment tax credit to offset construction and retrofitting costs for manufacturing facilities. The incentives would exclude food and fuel and the use of feedstocks grown outside the U.S.