WASHINGTON, DC – Growth Energy, the coalition of U.S. ethanol supporters, released the following statement in response to the announcement of a deal made between Sens. John Thune (R-SD), Amy Klobuchar (D-Minn.) and Dianne Feinstein (D-Calif.) to reform the Volumetric Ethanol Excise Tax Credit (VEETC) in order to invest in next generation ethanol, remove barriers to the marketplace by providing consumer access at the pump, and reduce the federal budget deficit.
“Senators Thune and Klobuchar worked tirelessly to help shape a compromise that will benefit all Americans. This proposal will benefit consumers at the pump, reduce our dependence on foreign oil by investing in next generation biofuels, and make a significant contribution to reducing our nation’s budget deficit,” said Growth Energy CEO Tom Buis.
“Our nation has reaped enormous economic and environmental benefits from the use of ten percent ethanol in our fuel supply. Ethanol is home grown, better for the environment and is the only commercially viable alternative to foreign oil today. Increasing access to higher level blends of clean, renewable ethanol made from a variety of feedstocks will bring our nation one step closer toward achieving our energy independence goals.”
About Growth Energy
Growth Energy represents the producers and supporters of ethanol who feed the world and fuel America in ways that achieve energy independence, improve economic well-being and create a healthier environment for all Americans now.