Organization Fights to Reinstate E85 Tax Credits
WASHINGTON, D.C. -- The Coalition for E85 is fighting back against the U.S. Government. On Jan. 1, the U.S. Congress allowed the ethanol tax credit to expire.
Without any tax credits, prices for E75 at the pump instantly increased 38 cents per gallon, according to the coalition. The group is fighting to have the tax credit reinstated as it believes E85 should be recognized as an alternative fuel source, akin to other fuel alternatives such as compressed natural gas and liquefied natural gas.
"E85 has the potential to provide 12 million American drivers with a clean fuel option, while making progress toward freeing our country from its foreign petroleum dependency," the coalition said in a statement. "Without relief, many small businesses that have invested more than $100 million in E85 infrastructure may be forced to close their pumps."
Despite the tax credit expiration, Matt Horton, CEO of Propel Fuels, a Coalition for E85 member, said the organization is working with retailers, producers and consumers who want to support ethanol, a locally produced fuel alternative. "Oil companies didn't need the tax credit to keep blending ethanol into gasoline, but America's alternative fuel need the tax credit to keep E85 affordable. Without Congress' continued support, America will become more dependent on foreign oil."