December 1, 2010
Harkin Joins Bipartisan Group of Senators Calling on Leadership to Focus on Extending Renewable Fuel Tax Credits
WASHINGTON, D.C. – Senator Tom Harkin (D-IA) today joined a bipartisan group of Senators in writing to Majority Leader Harry Reid and Minority Leader Mitch McConnell asking that they make an extension of renewable fuel tax and tariff provisions a high priority on the Senate’s legislative agenda. This includes the Volumetric Ethanol Excise Tax Credit (VEETC) and the biodiesel tax credit. In the letter, the Senators point out that if these tax credits expire or remain expired, that it would threaten jobs, slow the nation’s move toward energy independence and harm the renewable fuels industry. A copy of the letter can be found here.
“Our country is spending over $730 million a day on imported petroleum this year, money that often ended up in the hands of unstable or unfriendly governments. The price tag for our dependence on foreign oil is likely to rise even higher as the economy recovers,” wrote the Senators. “This is not the time to reduce the supply of a domestic source of fuel and place at greater risk the thousands of well-paying jobs that the renewable fuels industry has created. Congress should demonstrate that it continues to recognize the need to develop domestic, renewable sources of fuel.”
As the former Chairman and now senior member of the Senate Agriculture Committee, Harkin has been a long-time leader in promoting the production and use of biofuels as an important part of the nation’s energy strategy. A list of recent Harkin initiatives and actions aimed at promoting biofuels can be found here.
