| October 21, 2010 |  |
AG Secretary Only Half Right on Biofuels Tax Credits
UCS Calls for ‘Billion Gallon Challenge’ to Meet Biofuel Goals
WASHINGTON (October 21, 2010) – Steps outlined today to increase domestic biofuel production by Secretary of Agriculture Tom Vilsack only "got it half right," according to the Union of Concerned Scientists (UCS). Vilsack was speaking at the National Press Club in downtown Washington.
"Secretary Vilsack got it half right on biofuels tax credits," said Jeremy Martin, senior scientist with UCS's Clean Vehicles Program. "We agree that it is time to reform the current tax credits and replace them with performance-based incentives that reward biofuels producers for cutting pollution and saving oil. However, there's no reason to extend the existing tax credits – even for a brief time -- because they waste taxpayer dollars without strengthening national security or providing any benefits to farmers and the environment."
In June, UCS released the only detailed proposal to replace existing biofuels tax credits with a performance-based tax credit, which would save more oil and cut more pollution at a lower cost to taxpayers. Another June UCS report, "The Billion Gallon Challenge," proposed a series of loan guarantees and investment tax credits that would provide the necessary support to install the first billion gallons of clean, cellulosic biofuels refining capacity.
"Our current policies have failed to bring clean biofuels to market," Martin said. "This year, the government had to lower the mandated levels of cellulosic biofuels by more than 90 percent due to lack of supply. It's time to get this industry back on track by launching a program to produce the first billion gallons of clean, cellulosic biofuels. Done right, cellulosic biofuels could curb America’s oil dependence, reduce carbon pollution, and generate new economic opportunities across rural America."
The Union of Concerned Scientists puts rigorous, independent science to work to solve our planet's most pressing problems. Joining with citizens across the country, we combine technical analysis and effective advocacy to create innovative, practical solutions for a healthy, safe, and sustainable future.
