January 10, 2013

Boosting renewable fuels


Last week congress approved a bill that helped the country avoid the fiscal cliff.

One of the items in that bill included extending tax credits that help with cellulosic ethanol production. The bill also helps with ethanol infrastructure.

The extension of tax credits come as welcome news to many area corn producers. Jon Holzfaster fills his vehicle up with an E-85 blend of ethanol. The District 8 Director of the Nebraska Corn Board is happy that tax credits were extended to help the ethanol industry.

“The extension of the alternative fuel infrastructure tax will be much more valuable in the short term,” says Jon Holzfaster, Nebraska Corn Board. That tax credit allows the folks that install the infrastructure to provide alternative blends of ethanol or alternative fuels the opportunity to offset some of their tax liabilities by providing a choice for the consumers at the pump with different blends of ethanol.

Holzfaster says if the tax credits were not extended the ethanol industry would suffer. He adds in tax credits will help the industry continue to flourish and help keep the price of gasoline down.

“It is a product that utilizes a renewable resource. It is friendly to the environment and it is saving consumers' money at the pump. We do not feel we really need to have an abundance of Federal legislation behind this but it is good to know that is someone back there that knows that industry and can do things to help the industry in providing that security of knowing you will not have the rug pulled out from underneath you,” says Holzfaster.

Holzfaster says the extension of the tax credits is great news for the future of the ethanol industry. He believes there are many senators on Washington that see the benefits of ethanol and they are fighting to make sure the industry continues to be viable in the coming years.

View Holzfaster’s interview with KNOP-TV News out of North Platte.

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