U.S. Senator Baucus Proposes One-Year Ethanol Credit Extension
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Government incentives for the ethanol industry would be reduced by 20 percent and extended for one year under a bill by U.S. Senator Max Baucus that is set for a vote tomorrow.
The tax credit to refiners for each gallon of ethanol blended with gasoline would be cut to 36 cents from 45 cents under the bill introduced by Baucus, a Democrat from Montana and chairman of the Finance Committee. A 54-cent tariff levied on Brazilian imports would also remain in place for a year.