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New Energy Legislation Should Maintain Biofuels Incentives
US - As Congress continues to debate energy legislation this week, the importance of biofuels such as corn ethanol should be recognized as part of the solution to reduce energy prices and boost energy independence, the National Corn Growers Association said."We are happy to see Congress take action on energy this week," said Ron Litterer, NCGA president.
"Supporting alternatives such as biofuels is an important part of a well-balanced energy plan, and we hope Congress can work together to see this take place before the session adjourns."
On Tuesday, the House of Representatives passed an energy bill that principally addresses other forms of renewable energy (such as wind power), but also extends three renewable fuels provisions – the Alternative Refueling Stations Credit, the Biodiesel Production Tax Credit and the Small Biodiesel Producers Credit.
Tax credits for ethanol blenders and small ethanol producers, as well as the ethanol import tariff, are not included in the bill as they are not currently scheduled to expire until the end of 2010.
At present, the U.S. Senate is taking up energy issues by looking first at tax credit extensions and then focusing on energy policy overall. Litterer noted that the movement in Washington is very fluid at present.
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