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Ethanol groups pleased with Senate bill

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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