H.R.196: To amend the Internal Revenue Code of 1986 to make permanent certain tax incentives for ethanol and biodiesel used as a fuel, and for other purposes.

Renewable Fuels and Energy Independence Promotion Act of 2007 - Amends the Internal Revenue Code to make permanent the income and excise tax credits for alcohol and biodiesel used as fuel.

Amends the Harmonized Tariff Schedule of the United States to move the effective date for tariff duties on ethyl alcohol and ethyl tertiary-butyl ether (ethanol) to the effective date of this Act.