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 the ethanol tax credit, while Nelson approves. Reuters reports that Rep. James Clyburn (D-SC) said earlier today that the tax credit should be included.
The devil is still in the details, including the length of an extension and amount of the credit, according to Matt Hartwig with the Renewable Fuels Association, who said that lawmakers were reported to be ironing those out and confirmation may yet come by the end of the day.
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