US cellulosic biofuels industry welcomes Senate's extension of tax extenders including provisions for cellulosic biofuels such as Producer Tax Credit and special depreciation allowance, says Advanced Ethanol Council
April 3, 2014
– Brooke Coleman, Executive Director of the Advanced Ethanol Council (AEC), released a statement today in response to the Senate Finance Committee’s markup of a package of tax extenders. The proposal extends a number of provisions for cellulosic biofuels, including the Producer Tax Credit (PTC) and the special depreciation allowance.
“The cellulosic biofuels industry is very pleased to see tax extenders come out of committee. We commend Chairman Wyden and Ranking Member Hatch for taking the lead on extending these important provisions. The cellulosic biofuel industry is just breaking through at commercial scale. Today’s markup sends a clear signal to the marketplace that Congress is making progress on extending its support for one of the most innovative, low carbon industries in the world. It will be very important to move this package along quickly, as executives in our industry are weighing the pros and cons of developing the next wave of projects here or abroad. These provisions are very important to level set against permanent subsidies to oil and gas. We look forward to the next step in the process and appreciate the Senate’s leadership on the issue.”