AEC urges US Congress to extend tax incentives

12 December 2011 22:17  [Source: ICIS news]

HOUSTON (ICIS)--The Advanced Ethanol Council (AEC) issued a letter to members of Congress on Monday urging them to extend two renewable fuel tax incentives, which they say will ensure stability in the marketplace and prevent job losses.

In pushing the extension of the cellulosic biofuels producer tax credit (PTC) and the special depreciation allowance for cellulosic biofuel plant property, AEC executive director Brooke Coleman said incumbent energy sectors already have the types of tax incentives it is seeking to extend.

"As Congress considers the extension of a number of tax provisions for the clean energy sector, we would also like to highlight the importance of timing,” Coleman said. “The mere prospect of the expiration of the PTC and special depreciation allowance for cellulosic biofuels in 2012 will start to affect projects that take 18 months to build, and could drive our industry into a series of ‘fits and starts’ that has dampened investment in other domestic clean energy sectors for decades.”

Both tax incentives expire on 31 December 2012.

For more on ethanol and biofuels visit ICIS chemical intelligence

By: Brian Balboa
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