Political Quotes

“this amendment is designed to provide relief to the tens of thousands of blue collar workers that work in refineries across this country. Refineries right now purchase what are called RINs, which are artificial regulatory licenses that they must purchase. They were originally designed to be at 1 or 2 cents apiece. In the past year, they have skyrocketed. In the past year, RINs have skyrocketed up to $1.12 apiece, the highest level since 2013. That is a 650-percent increase in the past year. Just a year ago they were trading at 15 cents. What does that mean? That means $15 billion in regulatory cost for refineries. And let me say something importantly: Not one penny of that $15 billion goes to corn farmers or ethanol producers. It goes to Wall Street speculators. So this amendment would provide--it would cap RINs at 10 cents apiece. What that would mean is this is a choice between do you want millions of dollars to go to Wall Street speculators or do you want the money to go to blue collar workers and refineries? The PRESIDING OFFICER. The Senator from Iowa.”