In a letter to Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, Speaker John Boehner and House Minority Leader Nancy Pelosi, leading environmental, science and advanced biofuels advocates joined with the American Coalition for Ethanol (ACE) today urging Congress to protect the Renewable Fuel Standard (RFS) and extend expiring tax incentives for cellulosic biofuels. The letter, signed by ACE, the Advanced Ethanol Council (AEC), the Union of Concerned Scientists (UCS), the Natural Resources Defense Council (NRDC), the Great Plains Institute, the Environmental and Energy Study Institute (EESI), the Institute for Agriculture and Trade Policy, the Advanced Biofuels Association and the Biotechnology Industry Association (BIO), comes in the midst of a series of investigatory hearings on the RFS in the Senate and another hearing today in the Senate Finance Committee on energy tax reform.
Specifically, the letter calls on Congress to leave the RFS unchanged, stating that “[a]ny effort to open up the RFS would send a chilling signal to a sector where decades-old policies and incentives continue to push investment dollars to the incumbent petroleum industry.” The group calls the RFS a “cornerstone” of the emerging advanced biofuels industry in the United States.
The letter also calls on Congress to extend existing tax incentives for cellulosic biofuels – both the Producer Tax Credit and Accelerated Depreciation – while it continues to deliberate on more comprehensive tax reform. “We support ongoing efforts to more comprehensively reform energy tax policy to level the playing field between incumbent industries and cleaner alternatives and enhance U.S. competitiveness in the global $2.4 trillion clean energy marketplace,” the letter states. The group letter adds that “[a] reformed tax policy should reflect 21st century energy challenges by complementing the RFS, rewarding environmental performance and driving innovation.”
The full letter can be read at this link: https://bit.ly/LivbPb