The only action remaining before the ethanol industry has the best holiday present of the season is President Obama’s signature. In what could literally be defined as the 25th hour, Congress passed the tax bill on Thursday that included a one-year tax extension for several key ethanol tax incentives. In the most heated subsidy debate in history, ethanol was the …
NEC Registration At Feverish Pace
Registration for the 16th Annual National Ethanol Conference on February 20-22, 2011 is filling up fast. So fast in fact that there is concern that the hotel rooms at the JW Marriott Desert Ridge Resort & Spa in Phoenix, Arizona are going to be gone right along with 2010. The focus for this year’s conference is Building Bridges to a …
Ethanol Report on Senate Passage of Tax Bill
In this edition of “The Ethanol Report” we get reaction from Renewable Fuels Association president and CEO Bob Dinneen on the passage by the Senate of the compromise tax package that includes a one-year extension of important tax incentives for ethanol production and use. Dinneen says they are thrilled with passage of the measure, which gives some stability to the …
Senate Passes Tax Package
The Senate has overwhelmingly passed what is likely to be an early Christmas present for everyone, including renewable energy interests, with tax credits for ethanol and biodiesel extended for another year. The vote was 81 to 19 to pass the bill, which was primarily to extend both unemployment benefits and the Bush era tax cuts. The House is expected to …
Ethanol Tax Incentive Cost Perspective
The cost of extending the ethanol blenders tax credit for another year is well worth it, according to the Renewable Fuels Association. Extending the Volumetric Ethanol Excise Tax Credit (VEETC) is estimated to cost about $6 billion dollars in 2011 at the current rate in the Senate bill of 45 cents per gallon. The United States spends about $750 million …
Update On Biofuels Tax Credit Extensions
The biofuels industry has been watching closely as the various biofuels tax incentives make their way through the Senate. Today the U.S. Senate voted to invoke cloture on the motion to proceed to major tax legislation containing one-year tax extensions of key biofuels tax incentives including VEETC, the Small Ethanol Producer Tax Credit, Secondary Tariff, the Alternative Vehicle Refueling Property …
Ethanol By the Numbers
U.S. exports of ethanol remained strong in October at 34.9 million gallons, according to the latest government information, with the total of January-October at a record high 286 million gallons. The current forecast is for the U.S. to export more than 325 million gallons of ethanol this year, more than double the previous record of 158 million gallons in 2008. …
Ethanol Tax Credit Said to be in Deal
Word is that the ethanol tax credit and possibly other renewable energy incentives will be included in the deal being cut on Capitol Hill this week. Bloomberg has reported that Democratic Senators Ben Nelson (D-NE) and Dianne Feinstein (D-CA) both say the Volumetric Ethanol Excise Tax Credit (VEETC) for blending ethanol with gasoline is part of the package. Feinstein opposes …
Deal May Include Ethanol and Biodiesel Tax Breaks
Nobody seems to be happy about the tax breaks/unemployment benefits deal announced by President Obama yesterday and no one is sure what all it ultimately will include, but Sen. Chuck Grassley (R-IA) says that ethanol blenders tax credit and associated tariff, as well as the biodiesel tax credit may be in it. During his regular weekly conference call with reporters …
Congress May Make Deal on Tax Cuts
After defeating a compromise measure proposed by Sen. Max Baucus (D-MT) to extend the Bush tax cuts only for the middle class, the talk on Capitol Hill is now turning to a deal that would keep all of the tax cuts in exchange for extending unemployment benefits. Baucus had proposed a compromise amendment late Thursday that would have continued unemployment …