Senate Could Vote on Tax Bill Monday

Senate Could Vote on Tax Bill Monday

Ethanol tax credit included in legislation.

On Friday, Senate Majority Leader Harry Reid, D-Nev., filed a motion to limit debate on the tax cuts and unemployment benefits deal.  He wants a Monday afternoon vote to move the measure forward. In the meantime, Senator Bernie Sanders, I-Vt., began a filibuster against the bill. Sanders admitted he is simply there to take as long as he can to explain to the American people the fact that they have got to do a lot better than this agreement provides.

Critical tax provisions for the use of ethanol are included in a Senate tax bill. The bill would extend the tax credit for ethanol use known as VEETC through 2011. It would also extend the offsetting tariff and other tax credits for ethanol infrastructure for one more year.

Renewable Fuels Association President and CEO Bob Dinneen admits that while this extension is not as long as they had hoped it is a common sense approach that will ensure American ethanol production continues to evolve and new technologies commercialized.

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