An amendment introduced by Pat Toomey, was defeated in the Senate Banking Committee by a vote of 7 – 15.
The amendment would have eliminated the corn-ethanol blending targets that are part of the renewable fuel standards (RFS).
“It is no surprise that Senator Toomey’s amendment failed – it never had a chance of passing,” said Tom Buis, Growth Energy CEO. “Similar to legislation he has introduced before, it did not gain any traction and failed because this legislation only restricts consumer choice and attempts to dismantle a successful American industry that is creating jobs, improving our environment and reducing our dependence on foreign oil.”
Bob Dinnen, president and CEO of the Renewable Fuels Assocation (RFA) said, “The committee rightly rejected the amendment by Sen. Toomey because it would have done nothing more than squelched investment and created uncertainty in the market, and thereby would have had a detrimental impact on the energy and economic future of generations to come.”