DC Wrapping up a campaign that began last summer, Sen. Chuck Grassley of Iowa scored a major legislative victory today by winning congressional approval for his bi-partisan plan to extend the ethanol tax incentive to the year 2007. Both senators are members of the tax-writing Finance Committee. President Clinton is expected to sign the transportation measure.
Ethanol is good for America's energy independence from foreign sources of oil.
It's good for the U.S. balance of trade because we import so much oil from other countries. It is good for the environment because it reduces fossil fuel emissions. And ethanol is good for farmers and jobs in rural America. Ethanol represents our third largest corn market. Ethanol production already accounts for 200,000 jobs nationwide.