In a show of support for ethanol blended gasolines, the state's one-cent ethanol tax credit has been extended from its existing expiration date of June 30, 2000 through the year 2007. At the ceremony to sign the bill into law, Governor Terry Branstad said, "We've been a pioneer in this renewable fuel... It reduces pollution, it reduces our dependency on foreign oil. It's renewable, it creates a market for value-added agricultural products, and it's created a number of jobs in the state of Iowa."