Nebraska government flowing in dollars as ethanol strategy pays off

November 26, 2007

In Nebraska, state coffers are overflowing from increased tax receipts based on high producer prices for corn, wheat and soybeans, and the success of the state’s ethanol, strategy. An AP report said that Nebraska’s cash reserve has increased to a projected $542 million by June 2008, up from $273.6 million in 2006.

Nebraska’s state government and congressional delegation remain firm in their commitment to biofuels production. Earlier this month, Nebraska Senator Ben Nelson and South Dakota Senator John Thune co-sponsored an amendment to the Farm Bill, adding a Renewable Fuels Standard target of 36 billion gallons of ethanol by 2022. 21 billion gallons would come from next-generation biofuels.

Thune and Nelson say that the Renewable Fuel Standard, originally included in the 2007 Energy Bill, is a “better fit” for the Farm Bill. The Energy Bill is stalled as members of Congress has been unable to resolve differences between the House and Senate versions of the bill.

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Written by Jim Lane · Filed Under Consumers & Fleets, Policy