Congress Extends Tax Incentives to Retailers Offering Ethanol Blends

WASHINGTON, DC — On Jan. 1, 2013 Congress passed the American Taxpayer Relief Act of 2012, which includes an extension of the alternative fuel infrastructure tax credit for retailers offering higher blends of ethanol.

“The decision by Congress to include this important tax incentive shows that lawmakers understand the benefits of biofuels and that with increased incentives to sell higher blends of ethanol, we are not only decreasing our dependence on foreign oil, but are also providing consumers a choice and savings at the pump,” stated Tom Buis CEO of Growth Energy.

This tax incentive helps fuel retailers defray the cost of installing equipment such as underground storage tanks and other related infrastructure to dispense increased ethanol blends, like E85. For the past five years, ethanol has enjoyed a price advantage over regular gasoline, with ethanol being 15 cents to 75 cents cheaper on a yearly average basis from 2007 to 2011, and about 55 cents cheaper today. Every drop of ethanol that drivers put in their car lowers the price at the pump.

“The benefits to the retailer and the consumer are clear – by selling a home grown, renewable fuel that helps create America jobs that cannot be outsourced retailers can increase traffic to their fueling stations and consumers can save money when they fill up,” continued Buis.

“I am pleased that Congress has extended this incentive to assist retailers as they continue to improve their infrastructure and provide consumers with a savings and a choice, all while increasing the usage of American grown energy and improving the environment with a cleaner burning fuel,” Buis concluded.

For more information, please visit Growth Energy’s dedicated website for retailers at www.EthanolRetailer.com or contact us at www.GrowthEnergy.org.

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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. For more information, please visit us at www.GrowthEnergy.org follow us on Twitter @GrowthEnergy or connect with us on Facebook