Senate Proceeding on Jun 14th, 2011 :: 0:57:20 to 0:59:35
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0:57:17 to 0:57:37( Edit History Discussion )

Saxby Chambliss: for months, there have been very heated debate surrounding the blender tax credit for ethanol and the tariff on imported ethanol. some of my colleagues advocate repealing ethanol-related tax incentives immediately, while others are adamantly opposed to changing course on tax policy that was passed at the end of last congress and that would extend these tax credits through

0:57:20 to 0:59:35( Edit History Discussion )
Speech By: Saxby Chambliss

0:57:38 to 0:57:58( Edit History Discussion )

Saxby Chambliss: the end of this year. regardless, it is clear that congress must make a decision on whether to reform the ethanol blenders tax credit and import tariff this year. in my home state of georgia, i see both the positive and the negative effects that this tax policy has had. while it has spurred the growth of the ethanol industry, some

0:57:59 to 0:58:20( Edit History Discussion )

Saxby Chambliss: say it has caused drastic increases in the price of corn-based feedstock prices. a new study prepared for the upcoming g-20 meeting shows that biofuel subsidies are directly related to food price volatility. i believe that because the credit is set to expire in december of this year and that

0:58:21 to 0:58:42( Edit History Discussion )

Saxby Chambliss: many ethanol producers have the credit embedded in their business plans, that congress should not immediately repeal the tax credit. when it expires at the end of this year, even though i supported this tax credit for all of the years that i have served in both the house and the senate, i think the time has come.

0:58:43 to 0:59:05( Edit History Discussion )

Saxby Chambliss: and if we tell the blenders today at the end of this year this tax credit is going to expire, and it needs to expire then, so i do not intend to support an extension of that tax credit beginning upon the expiration at the end of this year. regardless of where one stands on the underlying issue itself, i believe that the amendment deserves to have a vote on its

0:59:06 to 0:59:26( Edit History Discussion )

Saxby Chambliss: merits and not be blocked by a procedural tactics. because so much attention has been paid to the issue and because we've had such extensive debates, this amendment deserves an up-or-down vote rather than being stopped by filibuster. for this reason, i intend to vote in favor of the motion to invoke cloture on the senator

0:59:27 to 0:59:35( Edit History Discussion )

Saxby Chambliss: from encourage my colleagues to do the same.