Wed, 21 Sep 2022 13:23:44 CDT
Today, Growth Energy Senior Vice President of Regulatory Affairs Chris Bliley testified before the Michigan State House Committee on Tax Policy in support of SB814, legislation that would establish a retailer tax incentive for higher ethanol blends, specifically a tax credit of $0.05 per gallon on sales of E15 and $0.085 per gallon on sales of E85. SB814 was introduced by Sen. Kevin Daley.
“This credit is important as retailers in Michigan continue to build out the market and invest in additional infrastructure to install these ethanol blends,” testified Bliley. “Ethanol blends such as E15 and E85 provide environmental benefits, boost Michigan’s farmers and biofuel producers, and give consumers more affordable choices at the pump. With the summer’s high gas prices, we saw E15 sell for up to nearly a dollar less per gallon than regular gasoline and E85 at a discount of 2 to 3 dollars per gallon.”
“As noted, ethanol reduces greenhouse gas emissions by nearly 50 percent compared to gasoline and we continue to push toward net-zero emissions with readily available technologies. In fact, moving to E15 across the state would reduce greenhouse gas emissions by 580,000 tons per year in Michigan alone.”
Read Bliley’s full testimony as prepared for delivery here.
Growth Energy members in Michigan include POET Biorefining – Caro, The Andersons – Albion, the Corn Marketing Program of Michigan, NUVUFuels, One Ethanol, and Trucent.