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Event Calendar

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 Association

National Biodiesel Conference & Expo 2006
February 5-8, 200
San Diego, California
National Biodiesel Board

11th Annual National Ethanol Conference: "Policy & Marketing"
February 20-22, 200
Las Vegas, Nevada, USA
Sponsored by:
Renewable Fuels Association

22nd Annual International Fuel Ethanol Workshop & Expo
June 20-23, 200
Milwaukee, Wisconsin, USA

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Posted on  

November 6, 2003

Energy Bill Update: Deal Reached on Ethanol Tax Issues

by Julianne Johnston

Sen. Chuck Grassley, chairman of the Committee on Finance, made the following comment on an agreement he reached today with the House on the ethanol and biodiesel parts of the energy tax incentives package.

"Today's agreement locks in the VEETC legislation. This puts the tax incentives for ethanol on equal footing with every other energy tax incentive. Those other incentives are derived from the general fund. The incentives include oil and gas and alternative energy incentives such as wind and biomass tax credits. The use of ethanol will no longer take money from the highway trust fund. Our agreement also includes the new tax credit for biodiesel as passed by the Senate. Biodiesel is a new and promising renewable fuel. Our agreement also contains the VEETC legislation's guarantee that purchasers of ethanol will pay the whole gas tax, making the highway trust fund whole.

These highway trust fund changes, including the 2.5 cents transfer and the elimination of the partial exemption for ethanol-blended fuels, will be carried out when Congress next acts on the highway trust fund legislation. It's important for the highway community to know that the changes will be made at the earliest possible time on the legislative calendar. Since the current trust fund authority expires on Feb. 29, 2004, both the House and Senate must act before then.

"Our agreement on all of these provisions is a big step toward completing the conference report. However, there are a number of other tax and non-tax issues that must be resolved before the energy conference can be completed. The unresolved issues include coal, the CLEAR Act and waivers to the renewable fuels standard."


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