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U.S. Senate Begins Debate on Key Tax Legislation

14/12/2010 14:55:00 pangea

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U.S. Ethanol tax incentives

Key ethanol tax incentives, including VEETC

(Sioux Falls, SD)

Today the U.S. Senate voted to invoke cloture on the motion to proceed to major tax legislation containing one-year extensions of key ethanol tax incentives, including VEETC, the Small Ethanol Producer Tax Credit, Secondary Tariff, and Alternative Vehicle Refueling Property credit.

Brian Jennings, Executive Vice President of the American Coalition for Ethanol (ACE), released the following statement:

"This procedural vote is the first step in the legislative process, and it signals that the U.S. Senate will adopt the tax package containing critical ethanol extensions later this week. We are hopeful that very soon after the Senate enacts this legislation the U.S. House of Representatives will as well. ACE has mobilized grassroots support for the tax legislation and ethanol provisions in the U.S. House so that the bill is sent to President Obama’s desk for his signature. Members of Congress voting for this important legislation will help prevent Americans from paying higher gas taxes, help save existing jobs and create new jobs in rural American and reduce our dangerous dependence on foreign oil."

The American Coalition for Ethanol (ACE)

The American Coalition for Ethanol (ACE) is the grassroots voice of the U.S. ethanol industry, a national advocacy association for the ethanol industry with nearly 1,500 members nationwide, including farmers, ethanol producers, commodity organizations, businesses supplying goods and services to the ethanol industry, rural electric cooperatives, and individuals supportive of increased production and use of ethanol. For more information about ethanol or ACE, visit www.ethanol.org or call (605) 334-3381.