Thune/Klobuchar Bill Endorsed by Ethanol Industry

Deliver Dispense, Federal Legislation, Infrastructure, Minnesota, Policy, South Dakota

June 14, 2011

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by Joanna Schroeder (DomesticFuel.com) Senators John Thune (R-SD) and Amy Klobuchar (D-MN) along with a bipartisan group of nine other Senate colleagues have introduced the Ethanol Reform and Deficit Reduction Act. The bill is designed to modify the current Volumetric Ethanol Excise Tax Incentive (VEETC), which is a set tax, to a variable tax incentive tied to the price of oil. To help open up market access for ethanol, the bill would also allocate funds saved through the updated ethanol tax incentive, to be used to expand fueling infrastructure through the vehicle of improved tax policies.
…“The legislation essentially sacrifices the ethanol blenders’ credit to catalyze next-generation biofuels and level the playing field with oil with one half of the market access puzzle – blender pumps,” said Brian Jennings, executive vice president of the American Coalition for Ethanol. “The other half of the market access puzzle, Flexible Fuel Vehicles (FFVs) will need to be addressed separately. ACE has been working behind the scenes with Republicans, Democrats, and the White House to advance this reform package and we will strongly support its adoption in Congress.” READ MORE and MORE (Senator Thune) and MORE (The Hill/E2Wire) S.1185

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