Legislation calls for tax incentive extensions

Ethanol Producer Magazine
By Holly Jessen

March was a busy month for ethanol industry leaders pushing for an extension to three tax incentives and the secondary tariff on imported ethanol.

The biggest news was the Renewable Fuels Reinvestment Act, proposed in the House by Reps. Earl Pomeroy, D-N.D., and John Shimkus, R-Ill. If passed, this bill would add five years each to the Volumetric Ethanol Excise Tax Credit, the Small Ethanol Producers Tax Credit and the tariff on imported ethanol. The bill would also tack three years on to the Cellulosic Ethanol Production Tax Credit. The bipartisan bill has 27 co-sponsors. “At a time when our economy is struggling, we cannot afford to let these tax incentives expire and stymie the growth we have seen in our ethanol industry,” Pomeroy said.

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