Source: Renewable Fuels Association
Senators Charles Grassley (R-Iowa) and Kent Conrad (D-N.D.) have introduced the GREEN Jobs Act of 2010 that would extend key tax incentives for the use and production of all forms of ethanol. Specifically, the bill extends through 2015 the Volumetric Ethanol Excise Tax Credit (VEETC), the offsetting tariff on foreign ethanol, the Small Producers Tax Credit, and the Cellulosic Ethanol Producer Tax Credit. Grassley and Conrad were joined by Senators John Thune (R-S.D.), Tim Johnson (D-S.D.), Ben Nelson (D-Neb.), and Mike Johanns (R-Neb.) as cosponsors.
The Green Jobs Act of 2010 is the companion legislation to H.R. 4940, the Renewable Fuels Reinvestment Act, introduced by Reps. Earl Pomeroy (D-N.D.) and John Shimkus (R-Ill.). That bill currently has 33 bipartisan cosponsors.