Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   

Agricultural News


Renewable Fuels Association Praises Ethanol Tax Policy Bill

Mon, 13 Jun 2011 15:36:05 CDT

Renewable Fuels Association Praises Ethanol Tax Policy Bill The Renewable Fuels Association (RFA) today praised the introduction of a bipartisan bill that would transition and transform current ethanol policy to both address fiscal concerns as well as ensure the continued growth of and innovation in America's ethanol industry. The bill, known as the Ethanol Reform and Deficit Reduction Act, was introduced by Senators John Thune (R-SD) and Amy Klobuchar (D-MN) and a bipartisan group of 9 Senate colleagues.


The bill would transition the current ethanol tax incentive, known as VEETC, to a variable tax incentive tied to the price of oil. Additionally, the bill would make available funds saved by the transformation of VEETC to expand ethanol fueling infrastructure by improving tax policies currently available for blender pumps and other ethanol-related infrastructure. Specifically, the bill calls for 53,000 blender pumps, a number the RFA noted was needed to help achieve the goals of the Renewable Fuels Standard. The bill would also extend current tax incentives for the next generation of ethanol technologies using cellulosic and other feedstocks. If passed, the bill would take effect July 1, 2011. This bill is similar to legislation introduced by Senators Chuck Grassley (R-IA), who is a cosponsor of this bill, and Kent Conrad (D-ND).


"This is thoughtful, responsible legislation that addresses the need for sound budget policy with progressive and innovative strategies for creating jobs and ending America's addiction to imported oil," said RFA President and CEO Bob Dinneen. "This bipartisan, forward-looking approach stands in stark contrast to other Senate gimmicks that would seek to end America's efforts to replace imported oil with domestically-produced renewable fuels like ethanol. America's entire ethanol industry stands in support of this effort and is proud to work with these Senate leaders to proactively offer responsible reform ideas and seek to see this bill become law through following the proper legislative process."


Original cosponsors of the bill include: Senators Grassley, Tom Harkin (D-IA), Mike Johanns (R-NE), Ben Nelson (D-NE), Richard Lugar (R-IN), Tim Johnson (D-SD), John Hoeven (R-ND), Al Franken (D-MN), and Jerry Moran (R-KS).


The RFA also points out that this substantive effort varies greatly from the political gamesmanship and legislative shenanigans that defines the crusade of oil-patch senators to end America's efforts to develop renewable alternatives to imported oil.


The RFA reaction to efforts by Sen. Tom Coburn (R-OK) and 15 other Senators who all voted against an effort to remove oil industry subsidies can be read hereand here.



   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Oklahoma Youth Expo Sale of Champions Sale Order Available Here- Sale Set for 4 PM Friday  Fri, 17 Mar 2023 04:50:54 CDT
  • Rural Voters Dominated Vote to Defeat Recreational Marijuana March 7th  Fri, 10 Mar 2023 07:13:05 CST
  • Ron Hays Talks to Israeli Ag Tour Guide Colin Lotzof About the Miraclel of Ag in Israel  Wed, 22 Feb 2023 22:11:04 CST
  • OALP Members Experience First Hand View of Cutting Edge Drip Irrigation Technology as Israel Travel Ends  Wed, 22 Feb 2023 10:51:49 CST
  • OALP Members Get First Hand View of Cutting Edge Drip Irrigation Technology as Israel Travel Ends  Wed, 22 Feb 2023 10:50:10 CST
  • Oklahoma Ag Leadership Program Sees Fruit, Beef and Dairy Production North of the Sea of Galilee in Israel  Mon, 20 Feb 2023 21:56:02 CST
  • Oklahoma Ag Leadership Program Sees Diverse Farm Operations in Jordan River Valley of Israel  Sun, 19 Feb 2023 21:17:30 CST
  • Israeli Tour Guide Mark Kedem Talks About The Cultural Aspects of What Class XX of OALP is Experiencing   Sat, 18 Feb 2023 22:17:23 CST

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Oklahoma City Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.
       
       
       
       
       

    Search OklahomaFarmReport.com

    © 2008-2024 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.