Call to Action
Legislation has been introduced in both the U.S. House and Senate to extend the Volumetric Ethanol Excise Tax Credit (VEETC). The Senate bill, Grow Renewable Energy from Ethanol Naturally (GREEN) Jobs Act of 2010 and its House companion bill, the Renewable Fuels Reinvestment Act (RFRA), are vitally important to the future of the ethanol industry and would extend the VEETC and the corresponding secondary tariff on ethanol, both of which are set to expire at the end of 2010. Both pieces of legislation will keep key ethanol incentive programs in place through 2015 and will ensure that America’s growing ethanol industry will continue to support U.S. farmers and rural communities across the country.  

The VEETC was created as part of the American Jobs Creation Act of 2004 and provides oil refiners, blenders and marketers of fuel with a federal tax credit of 45 cents per gallon of ethanol blended into traditional gasoline. The VEETC has played an important role in the expansion of the ethanol industry in recent years as it provides an economic incentive to blend ethanol with gasoline. The secondary tariff on imported ethanol was established to offset the expected tax benefits received by foreign ethanol producers under VEETC. Without the secondary tariff, American tax dollars would go to support foreign ethanol producers in countries such as Brazil, as the VEETC is claimed by the purchaser of ethanol and does not distinguish between imported or domestically produced ethanol.

For more information on the legislation, click here.

Please contact your U.S. Representative and Senators and ask them to show their support of these bills by co-sponsoring them. Please call the U.S. capitol switchboard at (202) 224-3121 and ask to speak to your members of Congress today or email them directly by clicking here.