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World Biofuels
Symposium
November 13-15, 2005
Beijing, China
2nd Annual Canadian Renewable Fuels Summit
December 13-15, 2005
Toronto, Ontario, Canada
Hosted by:
Candadian Renewable Fuels
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National Biodiesel
Conference & Expo 2006
February 5-8, 2006
San Diego, California
Organizer:
National Biodiesel Board
11th Annual
National Ethanol Conference: "Policy & Marketing"
February 20-22, 2006
Las Vegas, Nevada, USA
Sponsored by:
Renewable Fuels Association
22nd
Annual International Fuel Ethanol Workshop & Expo
June 20-23, 2006
Milwaukee, Wisconsin, USA
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Posted on
February 19, 2002RFA HAILS PASSAGE OF SENATE ENERGY TAX BILL THAT PROMOTES DOMESTIC FUELS LIKE ETHANOL Changes Will Help Farmers and Increase Highway Funding
WASHINGTON, DC -- The Renewable Fuels Association (RFA) has hailed the passage of the energy tax bill by the U.S. Senate Finance Committee that includes two important changes for ethanol. The bill will encourage more production from small, mostly farmer-owned, ethanol plants and addresses an oversight in previous legislation that sends part of the gas tax collected on ethanol-blended fuel to the general fund instead of the Highway Trust Fund.
“The Senate Finance Committee, led by Chairman Max Baucus and Ranking Republican Chuck Grassley, is to be commended,” said Bob Dinneen, RFA president. “This energy tax bill includes two common sense provisions important to increasing U.S. energy security by promoting the production and use of domestic ethanol.”
The Energy Tax Incentives Act of 2002 passed the Finance Committee last night on a voice vote. The bill is now expected to be included in energy legislation scheduled for debate on the Senate floor this month.
“First, this bill promotes the production of ethanol by allowing farmer-owned cooperatives to fully realize the benefits of the existing small ethanol producer tax credit program and by updating the definition of a small producer to reflect the modern ethanol industry,” continued Dinneen. “Taken as a whole, farmer-owned ethanol plants now represent the single largest ethanol producer in the country and this bill ensures that the rural economic growth from these plants will continue.”
The small ethanol producer tax credit program currently provides a 10-cents-per-gallon credit for small producers on the first fifteen million gallons of ethanol production. This bill allows allocating the ten-cents-per-gallon credit to members of a farmer cooperative and also changes the definition of a small ethanol producer from 30 million to 60 million gallons per year.
“This bill is the first step in addressing the concerns of some the ethanol use reduces highway funding,” said Dinneen. “States that use ethanol should not be penalized for promoting a domestic, renewable fuel that enhances energy security and protects the environment. The ethanol industry is committed to working on this issue until all of the concerns are answered.”
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