U.S. Ethanol Industry to Keep Subsidies Until End of 2011
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U.S. ethanol subsidies aren’t affected by a congressional agreement to lift the country’s debt limit that may be voted on by both chambers today, according to industry groups.
The 45-cent tax credit for each gallon of the biofuel blended into gasoline and the 54-cent tariff on Brazilian imports, due to expire Dec. 31, will stay in place for now, according to the Renewable Fuels Association and Growth Energy, Washington-based industry trade groups. Industry subsidies total $6 billion a year.