Missouri governor axes funding to pay off Qualified Biodiesel Producer Incentive Fund debt

In Missouri, the governor has cut the state budget including funds intended to pay down the $9.6 million debt of the state’s Qualified Biodiesel Producer Incentive Fund. The legislature voted to pay the debt during the spring session but his budget cuts over the summer and last week backtracked those efforts, the third time he has pulled the plug on paying the fund’s debt. Biodiesel producers have already paid taxes on the funds owed to them by the program.

“In his haste to respond to decisions made by our legislature, Governor Nixon has fallen into the trap of robbing Peter to pay Paul,” said Gary Wheeler, executive director of the Missouri Soybean Association. “Cutting the dollars budgeted to repay debt under Missouri’s Qualified Biodiesel Producer Incentive Fund only serves to kick that particular can down the road to the next administration.”

“In the business world, we are required to pay our debts. We appreciate that the legislature understands the State of Missouri should be no different,” Wheeler said. “Governor Nixon has been quick to recognize the jobs and economic impact our soybean farmers and biodiesel plants generate, but is now attempting to leave those same folks holding the bill while he exits stage left. It’s a shameful parting gift to those in agriculture who not only supported him the last eight years, but who have also already paid the taxes associated with that $9.6 million.”