GAO rates ethanol blender credit among most wasteful

In Washington, the Government Accountability Office lists the 45-cent-per-gallon tax credit among wasteful programs that could be slashed or eliminated to help address the nation’s fiscal problems.

The tax credit, due to expire at the end of the year, will cost the government $5.4 billion this year, and the lost revenue will grow to $6.75 billion by 2015 if the credit is extended, the GAO said.

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