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Full Text of this Amendment
At the end, add the following:
SEC. __X. SENSE OF THE SENATE REGARDING USE OF SAVINGS RESULTING FROM REPEAL OF VEETC.
It is the sense of the Senate that the savings from the repeal of the Volumetric Ethanol Excise Tax Credit should be directed to--
(1) reducing the Federal deficit; and
(2) extending for 5 years the Federal tax credits for advanced biofuels (as defined by the Renewable Fuel Standard under the Energy Independence and Security Act of 2007).
(As printed in the Congressional Record for the Senate on Jun 16, 2011.)