Biofuels industry praises Grassley ethanol bill

BrighterEnergy News
May 9, 2011

The American Coalition for Ethanol (ACE), Growth Energy, the National Corn Growers Association (NCGA), and the Renewable Fuels Association (RFA) have praised the legislation offered by a bipartisan group of senators, led by Iowa Senator Chuck Grassley, to responsibly transition and transform current ethanol tax policy.

The legislation would reduce the current blender’s credit, also known as VEETC, for a two year period before transitioning to a tax credit that would adjust based on the price of oil.

Importantly, this legislation would also improve upon current tax credits for the installation of blender pumps and ethanol fueling infrastructure. Additionally, the bill would extend tax credits for small ethanol producers as well as for advanced and cellulosic ethanol.

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