Bill extends ethanol tax incentives for five years

The measure also extends the $1.01 per gallon cellulosic biofuel tax credit for three years, through 2015. That credit expires at the end of 2012. 

“Our country is in serious danger because of skyrocketing energy costs,” Conrad said. “This growing crisis demands urgent action … extending these tax credits is a step in the right direction.”

Reps. Earl Pomeroy (D-N.D.) and John Shimkus (R-Ill.) are sponsoring companion legislation in the House. 

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