Growth Energy CEO Tom Buis commended the House and Senate for recognizing the importance of renewable fuels and acting to extend the cellulosic producer and the alternative fuel infrastructure tax credits through 2013 as part of the American Taxpayer Relief Act of 2012. With the extension of the alternative fuel infrastructure credit - Buis says Congress has taken a critical step to bring E15 to the marketplace. He says that will not only provide choice and savings to consumers - but will help decrease the nation’s addiction to foreign oil and help the renewable fuels industry break through the blend wall.
But while the extensions are important for sustained development in the biofuels industry - Buis says the short-term extension doesn’t provide the necessary certainty for investors and businesses to plan for the long-term. In addition - Buis says the farm bill extension does not include funding to ethanol infrastructure development under the Rural Energy for America Program or second-generation production under the Biomass Crop Assistance Program and the Biorefinery Assistance Program. Buis is urging the 113th Congress to revisit these provisions and act to provide the stability and funding necessary to ensure robust growth and continued success for the renewable fuels industry moving forward.