IT’S ABOUT TIME TAXPAYERS DID NOT HAVE TO SUBSIDIZE ETHANOL

[email_link]

Washington —The United States has ended a 30-year tax subsidy for corn-based ethanol that cost taxpayers $6 billion annually, and ended a tariff on imported Brazilian ethanol.

Congress adjourned for the year on Friday, failing to extend the tax break that’s drawn a wide variety of critics on Capitol Hill, including Sens. Tom Coburn, R-Okla., and Dianne Feinstein, D-Calif. Critics also have included environmentalists, frozen food producers, ranchers and others.

The policies have helped shift millions of tons of corn from feedlots, dinner tables and other products into gas tanks.

Environmental group Friends of the Earth praised the move.

Continued

SOURCE: http://www.detroitnews.com

1 reply
  1. Derrick says:

    So what does this give us now? Where is the 6b go and wont gas prices just go up since the companies need to makes this up somehow?

Comments are closed.