(August 2, 2012) Washington, DC -- The Advanced Ethanol Council (AEC) released a statement today applauding the leadership of the Senate Finance Committee in passing a bipartisan package of tax extenders that includes the Producer Tax Credit (PTC) for cellulosic biofuels and accelerated depreciation for cellulosic biorefineries. Both tax incentives are due to expire at the end of the year.

"The advanced biofuels industry commends the Senate Finance Committee for recognizing the need to provide continuity in the advanced biofuels marketplace while Congress tackles the bigger issue of comprehensive tax reform," said Brooke Coleman, Executive Director of the AEC. "Congress is right to take a hard look at all tax incentives for all energy industries, including fossil fuels. And we look forward to the day when we can restore parity to the tax code when it comes to energy development. But until that day comes, it is critical to maintain stability in the marketplace for emerging industries. This strong, bipartisan vote sends a strong signal to the marketplace that Congress understands the urgent need to address these expiring credits, and we look forward to getting these incentives extended as soon as possible."