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Ethanol groups pleased with Senate bill

DANIEL LOOKER 12/09/2010 @ 11:24pm Business Editor

Groups that lobby for the ethanol industry thanked supporters in the Senate Thursday for getting a one-year extension of the 45 cent per gallon tax credit included in pending tax legislation.

Brian Jennings of the American Coalition for ethanol released this statement late Thursday:

"Inclusion of this one-year extension given the forces working to prevent it is an important win and if enacted gives the ethanol industry the opportunity we asked for to continue identifying the best long-term roadmap for the tax credit and overall ethanol policy reforms.  We are most grateful to our supporters in Congress and the White House for their leadership and support and we recognize the hard work of enacting this package before the lame duck session of Congress adjourns is job one.  ACE will continue to help mobilize grassroots support for this legislation.

"When it became apparent a long-term extension of VEETC was unlikely in Congress, ACE began actively working with the White House, Congress, and other groups to unite behind a plan to reform the ethanol tax incentives.  The plan ACE developed with others in September called for a one-year extension of VEETC to give our industry time to reform the tax credit for ethanol producers while deploying more Flexible Fuel Vehicles and blender pumps as a better long-term approach.  We appreciate that Congress and the White House recognize the good-faith reform effort we are making and that they have included the first part of the reform plan, the one-year extension, giving us the time needed to pursue and implement the rest of the plan in the 112th Congress.

And the Renewable Fuels Association's board chairman, Chuck Woodside said:

“Ethanol producers greatly appreciate the determination of those members of Congress who worked tirelessly to continue America’s investment in ethanol production. As a farmer-owned ethanol producer, extending tax incentives for ethanol use is a critical step allowing ethanol to compete with a heavily subsidized oil industry. We are committed to the process of responsible reform of ethanol tax policy, but such a process would have been infinitely more difficult in the absence of the existing tax policy. We look forward to working with lawmakers, President Obama, and all other stakeholders to establishing policy that will ensure the continued growth and evolution of America’ s ethanol industry.”

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