Baucus proposes 36-cent, one-year ethanol tax credit
In Washington, Senate Finance chairman Max Baucus of Montana introduced a compromise on the ethanol tax credit. Under the proposed compromise, the ethanol tax credit would be cut to 36 cents and renewed for one year; a 54 cent tariff on Brazilian ethanol would also be renewed.
However, the Senate rejected the proposal in a vote Saturday.
Growth Energy CEO Tom Buis said “We are glad to see that the Senate is taking steps to resolve this important debate and we look forward to working with Congressional members to see it through to the finish. Although the extension for the ethanol tax credits are not as high and as long as we had hoped, an extension today will provide certainty in the market and give Congress the opportunity to consider longer term solutions, like our Fueling Freedom Plan, next year.”
Category: Policy