By on December 3, 2010

It seems that yesterday’s optimism about a possible end to the ethanol “Blender’s Credit” may have been somewhat premature, as Senate Budget Committee chair Max Baucus has now proposed extending the 45 cents per gallon tax credit at the lower rate of 36 cents per gallon. The ethanol industry has expressed disappointment, but says it will accept the proposal. Which, given the fact that the Blender’s Credit is opposed by groups as diverse as Friends Of The Earth and FreedomWorks, seems like the reasonable step. And because the 36 cent per gallon extension is only good for a year, even if it is approved, this battle will rage on.

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7 Comments on “Reduced Ethanol Blender’s Credit Headed For Senate Vote...”


  • avatar
    SVX pearlie

    Better yet, how about ZERO?

  • avatar
    dwford

    Wow, this really is a tough cut. $.09 a gallon cut to an industry that already has a law forcing the country to use its product. Congress really is serious about cutting the deficit!

  • avatar
    Daanii2

    I knew it. Greed and graft win again.

  • avatar
    ash78

    I’m always amazed how many people can become so impassioned about something when they know they’re wrong, but it affects their livelihood (eg corn ethanol proponents). At some point you just have to say “forget it, this was stupid, I should find something else to do with my life.”
     
    What if we all promised to eat more corn or something?

  • avatar
    mazder3

    Baucus must have gotten a nice check from Archer Daniels Midland for that. According to Public Citizen between 1999-2005 he took in the most money from special interests of any senator. Most of his donations come from big pharma, insurance companies, tobacco and banks. For more detailed information see…
    http://www.opensecrets.org/politicians/contrib.php?cycle=2010&cid=N00004643&type=I

  • avatar
    lostjr

    Even in ethanol land, they think they can survive without subsidies, as long as the mandate remains.
     
    “In 2009 alone, U.S. taxpayers shoveled $7 billion into ethanol. The Reuters news service reports that this year 41 percent of American corn, or 15 percent of the global crop, will end up in the ethanol market.”
     
    http://wcfcourier.com/business/local/article_c8434d08-fe5a-11df-beb9-001cc4c002e0.html


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