Senate
Passes Robust 8-billion-gallon RFS, notes NCGA (6-15-05)
Today, the
Senate passed a bipartisan 8-billion gallon Renewable Fuel Standard
(RFS) amendment (Amendment No. 779) offered by Chairman Pete Domenici
(R-N.M.) of the Senate Energy and Natural Resources (ENR) by a 70
to 26 vote. The National Corn Growers Association (NCGA) praises
Domenici (R-N.M.), Chairman James Inhofe (R-Okla.) of the Senate
Environment and Public Works (EPW) Committee and the bipartisan
coalition of senators for working together to ensure the 8-billion
gallon RFS remains in the Energy Policy Act of 2005.
“Chairmen Domenici and Inhofe have shown true
leadership by working together to help ensure future growth of the
domestic renewable fuels industry in this nation and moving us forward
in our efforts to pass an energy bill and reduce our dangerous addiction
to foreign imported oil,” said Leon Corzine, NCGA president.
“The benefits of a robust 8-billion-gallon RFS are simple
– energy security, stabilization of our economy and a greener
environment.”
The Domenici amendment represents a compromise between
Inhofe (R-Okla.) and the Senate EPW Committee legislation (S. 606),
Sen. Jim Talent’s (R-Mo.) amendment included in the Senate
ENR Committee legislation and the Senate’s bipartisan RFS
legislation (S. 650). The bipartisan-compromised Domenici amendment
includes the Clean Air Act provisions in the EPW legislation, the
8-billion-gallon RFS included in the Talent amendment, and the credit-trading
program language that limits the credits to the year when they are
generated that was included in S. 650.
“The hard work and commitment of the bipartisan
coalition of senators that came together to support an 8-billion-gallon
RFS was invaluable,” said Samantha Slater, NCGA director of
public policy. “The overwhelming success of the Domenici amendment
on the floor once again demonstrates the endorsement of the important
role renewable fuels, such as ethanol and biodiesel, will play in
our nation’s energy future.”
Cosponsors of the compromised amendment, along with
Domenici, include: Sens. John Thune (R-S.D.), Tom Harkin (D-Iowa),
Byron Dorgan (D-N.D.), Charles Grassley (R-Iowa), Ben Nelson (D-Neb.),
Sam Brownback (R-Kan.), Tim Johnson (D-S.D.), Chuck Hagel (R-Neb.),
Kent Conrad (D-N.D.), Mike DeWine (R-Ohio), Jim Talent (R-Mo), Debbie
Stabenow (D-Mich.), Richard Lugar (R-Ind.), Ken Salazar (D-Colo.),
Norm Coleman (R-Minn.) and Majority Leader Bill Frist (R-Tenn.).
The Senate Finance Committee is expected to markup
the tax title of the energy bill on June 16. Chairman Grassley’s
markup includes an extension of the biodiesel excise tax credit
through 2010, an extension of the wind production tax credit, and
two 20-percent investment tax credits for coal gasification facilities.
The price tag of the chairman’s tax title is $10.9 billion
over five years and $16 billion over 10 years. Once approved by
the Senate Finance Committee, the tax title will be added to the
energy bill next week as an amendment on the Senate floor.
The Senate is expected to adjourn later today to allow senators
to attend the funeral of former Nebraska Senator Jim Exon on Thursday.
The energy debate in the Senate will continue next week.