WASHINGTON, D.C. — Today, Growth Energy General Counsel Joe Kakesh testified in support of a proposal to expand access to lower-cost, lower-emissions biofuel blends for drivers in Michigan. At today’s hearing before the Michigan Senate Agriculture Committee, Kakesh urged lawmakers to pass Senate Bill 814, authored by committee chairman Sen. Kevin Daley. The bill would establish a retailer tax incentive for higher ethanol blends, specifically a tax credit of $0.05 per gallon on sales of E15 and $0.085 per gallon on sales of E85.
Kakesh testified that Senate Bill 814 “would provide an important tax credit for retailers selling higher ethanol blends” and that the credits are important “as retailers in Michigan continue to build out the market and invest in additional infrastructure” for higher ethanol blends.
“Ethanol blends such as E15 and E85 provide environmental benefits, boost Michigan’s farmers and biofuel producers, and give consumers more affordable choices at the pump. With today’s record high gas prices, we’re seeing E15 sell for nearly 60 cents less per gallon than regular gasoline and E85 at a discount of 2 to 3 dollars per gallon,” added Kakesh.
Kakesh’s full testimony as prepared for delivery is available here.
Growth Energy members in Michigan include POET Biorefining – Caro, The Andersons – Albion, the Corn Marketing Program of Michigan, NUVUFuels, One Ethanol, and Trucent.