Posted: January 7, 2008
Missouri Governor Matt Blunt has unveiled a plan to provide $2 million in tax incentives to fuel retailers who install E-85 ethanol pumps.
According to a press release from the governor’s office, there are only 92 gas stations capable of pumping E-85 out of the more than 4,300 stations in the state. These tax credits would help offset the cost of installing or modifying pumps and tanks to dispense E-85, estimated to cost between $3,000 and $40,000.
The proposal also calls for a $1,500 tax break for those who buy a flex-fuel vehicle capable of operating on blends of fuel containing as much as E-85. In addition, individuals who buy E-85 could get a $500 a year tax break.
“The Missouri Corn Growers Association applauds Governor Matt Blunt’s ongoing commitment to building E85 infrastructure throughout the state,” says Ethan Taylor, E85 Associate Director for MCGA. “In addition to his proposal for an increase in E85 pumps, Governor Blunt takes the next step by incentivizing consumers to purchase hybrid vehicles and E85 fuel. Thanks to his vision, Missouri continues to be a leader in the realm of renewable fuels.”
The measure would have to get lawmakers’ approval, and Blunt plans to make it a priority for the coming legislative session that begins this week.