First day of the new Congress and already biofuels legislation has been introduced.
According to the American Coalition for Ethanol, U.S. Senators Tom Harkin (D-IA) and Richard Lugar (R-IN) have introduced the Biofuels Security Act of 2007.
Including many of the legislative priorities called for by the American Coalition for Ethanol, the bill places homegrown biofuels at the center of America’s quest for energy security. Introduced today by Senator Harkin and co-sponsored by Senator Lugar, the legislation includes these provisions:
Setting new benchmarks for the Renewable Fuels Standard (RFS), reaching 30 billion gallons per year by 2020 and 60 billion gallons per year by 2030.
Requiring all U.S. automobiles to be flexible fuel vehicles (FFVs) by 2017, capable of running on gasoline or any blend of ethanol up to 85 percent (E85).
Requiring the major oil companies to carry E85 at half of their gas stations by 2017.
On the House side, the National Biodiesel Board was pleased to see Representatives Earl Pomeroy (D-ND) and Kenny Hulshof (R-MO), introduce the Renewable Fuels and Energy Independence Promotion Act.
It was their first legislation in the 110th Congress, which convened at noon. The legislation would make the federal excise tax credit for biodiesel permanent. If adopted, the move would likely lead to dramatic and sustained growth of biodiesel use.
The bill mirrors legislation that Pomeroy and Hulshof introduced in June 2003. It removes sunset provisions for ethanol and biodiesel incentives that accompanied the Volumetric Ethanol Excise Tax Credit (VEETC), which took effect Jan. 1, 2005. It also makes permanent a small agri-biodiesel producer credit.