Thursday, December 09, 2010

U.S. ethanol subsidy part of tax deal: trade group

An extension of the major U.S. ethanol subsidy "is part of the deal at the moment" in negotiations for an omnibus tax bill, but the size and lifespan of the subsidy are not set yet, a trade group said on Wednesday. The chairman of the Senate Budget Committee told reporters ethanol "was in a separate section of things to be resolved" and there was no decision on a subsidy rate. Chairman Kent Conrad discussed the issue with fellow Democrats. The 45-cent-a-gallon excise tax credit for ethanol is scheduled to expire on Dec 31. So would a 54-cent-a-gallon tariff on imported ethanol and a 10-cent-a-gallon credit for small producers of ethanol...more

These ethanol producers are the best I've staying on the gov't teat.

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