A news release issued yesterday by the Renewable Fuels Association (RFA) stated that, “[RFA] today praised the bipartisan Renewable Fuels Reinvestment Act (RFRA) introduced by Representatives Earl Pomeroy (D-ND) and John Shimkus (R-IL). The bill, HR 4940, would extend the $0.45 Volumetric Ethanol Excise Tax Credit (VEETC), commonly called the blenders’ credit, and the secondary tariff on imported ethanol until December 31, 2015. It would also extend the Small Producers Tax Credit and the Cellulosic Ethanol Production Tax Credit to January 1, 2016.
“‘Allowing the tax incentives for ethanol to expire is simply not an option,’ said Renewable Fuels Association President Bob Dinneen. ‘Failure to extend these incentives would force 112,000 Americans out of their jobs and shutter nearly 2 out of every 5 ethanol plants operating today. Long term extensions of these important incentives are good policy that encourages investment in current and next generation ethanol technologies.’”
Yesterday, Chuck Zimmerman interviewed Bob Dinneen, who participated in a press conference where the bill was introduced. To listen to this brief interview, just click here.