Wednesday, August 3, 2011

Just in from Washington

Ending Ethanol Credits Not Part of House-Passed Debt Measure

The bill passed by the House Monday to raise the debt limit and cut federal spending does not do away with the 45-cent tax credit for each gallon of ethanol blended into gasoline and the 54-cent tariff on Brazilian imports that are both set to expire Dec. 31.

“The current deal to raise the debt limit does not include any revenue raising measures, including the compromise to reform ethanol tax policy,” said Renewable Fuels Association President Bob Dinneen.

Bloomberg article

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