Last update: 23.12.2010
US: House said to consider reducing ethanol subsidy
Source : businessweek.com
The U.S. House Ways and Means Committee has proposed reducing the tax credit that helps support the ethanol industry by 20% to cut spending, according to two people familiar with the matter. Refiners and blenders would receive 36 cents for every gallon of ethanol blended into gasoline, down from the 45 cents they currently pocket, said the people, who declined to be identified because the proposal hasn’t been made public. The tax credit expires this year and the committee is proposing to extend it a year. Reducing the credit was a way to compromise with members of the committee who didn’t want to extend the incentives, the people said, and it could be attached to a legislative package for so-called green jobs within the next three weeks. The bill would also extend the 54-cent tariff slapped on Brazilian imports for one year.
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19 July 2010 |
United States & Canada
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