(March 9, 2011) Washington, D.C. – Today Bob Dinneen, President and CEO of the Renewable Fuels Association, commented on legislation introduced by U.S. Senators Tom Coburn, M.D. (R-OK) and Ben Cardin (D-MD) which called for the elimination of the Volumetric Ethanol Excise Tax Credit (VEETC).

“At a time of rapidly rising gas prices which threaten a fragile American economic recovery, it makes no sense to deprive Americans of a lower cost choice at the gas pump or to stop America’s investment in an American-made, job-creating alternative to foreign oil. If recharging our economy is a top fiscal and economic priority for these Senators then Job One should be redirecting the $1 billion a day we spend on foreign oil back into the U.S. economy. Ethanol is part of the solution, not the problem.”