June 14,2007

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Grassley Welcomes Alternative Energy Focus in Tax Package

Sen. Chuck Grassley, ranking member of the Committee on Finance, is a long-time proponent of alternative energy tax incentives. He made the following comment on the energy tax package released by the Finance Committee chairman tonight. The Finance Committee is scheduled to consider the bill on Tuesday.

“This bill reflects energy needs in the 21st Century. Americans need clean, green, domestic energy for their homes and cars.    

I’m glad to see the extension of key renewable energy provisions for ethanol, wind, and biodiesel. People need tax certainty to invest in infrastructure and keep production moving.    Production has to meet demand, and alternative energy has never been in such demand. It’s also important to recognize cutting-edge technology, like what’s used in scellulosic ethanol production. Sometimes policy is slow to catch up with technology. In this case, policy is keeping up.”

A summary of the chairman’s bill follows here. For more technical details, please see finance.senate.gov.