The Renewable Fuels Association (RFA) is set to release a new report today warning about the economic ramifications of allowing the tax incentive for ethanol blending to expire at the end of the year.

In a preview obtained by Domestic Fuel, allowing the Volumetric Ethanol Excise Tax Credit (VEETC) to expire would cost the country more than 100,000 jobs and cut U.S. domestic production by more than a third. According to RFA president Bob Dinneen, the report shows that failure to extend the tax incentives would result in “relegating future generations to a reliance on both foreign oil and foreign renewable fuels.”

The report is scheduled to be released by RFA later this morning.