Finally, these companies get a 45-cent-per-gallon ethanol tax credit. Proponents of ethanol subsidies claim taxpayers are well-served by reducing their dependence on imported oil and by adding cleaner-burning ethanol to gasoline. Critics.
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Lobbyists are also seeking a reinstatement of a tax credit for the production of cellulosic ethanol and a credit for biodiesel. And oil companies and other interests want to see a tax credit for capturing and sequestering carbon.
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Politicians are high on turning corn into fuel — but ethanol not only hurts the environment, it’s also one of America’s biggest political boondoggles
After a decade of experimenting with mandates, tax credits and tariffs, a national consensus has been reached that ethanol is just not worth it. Late to arrive at this conclusion are farmers, their Congressional representatives, and.
Cracks continued to in the ethanol industry’s once-impregnable political vanguard, as the San Francisco Chronicle reports that the Senate has voted to roll back the Volumetric Ethanol Excise Tax Credit (VEETC) as well as import tariffs on.
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With Congress back for a lame duck session, Sen. Ben Nelson, D-Neb., said extending the Volumetric Ethanol Excise Tax Credit (VEETC) may not be on lawmakers’ radar following a contentious election that saw Republicans gain the.
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Our hope is the full U.S. Senate, and House, follow the lead of the Senate Finance Committee and extend tax credits for wind energy, biodiesel and cellulosic ethanol through 2016. The Senate panel voted 23-3 last month for the.
With the $14.3 trillion national debt ceiling approaching, ethanol has become a flash point in GOP maneuvering over taxes. The government pays refiners 45 cents a gallon through a tax credit to refine ethanol. An additional 54-cents.
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Coburn has a point about the ethanol industry, which has enjoyed for far too long a government support hat trick: a blender tax credit of 45 cents per gallon, a tariff on foreign ethanol and a mandate requiring a set amount of ethanol to be used.
Obama’s declaration of support comes at a pivotal moment in the history of government subsidies for ethanol production. The long-standing $0.45/gallon tax credit for blending ethanol into the gasoline supply is set to expire this year. The.
Cascade Grain’s $200 million ethanol plant was supposed to be an environmental success story for Oregon, with the.
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Dec 04, 2017 · Energy lobbyists, who failed to get a range of expired breaks for biofuels to coal-fired power plants into the $1.5 trillion tax overhaul bill making its.
"The ethanol industry is significantly larger," Hartwig said, "and failure to renew the tax credits would result in about 40 percent of the production going off line – and that’s well in excess of 100,000 jobs." Contributing to his worrisome.
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(Crain’s) — U.S. Senate negotiators agreed Thursday to extend ethanol tax credits and other renewable-energy incentives for another year as part of lame-duck legislation to extend Bush-era income tax cuts for another two years.
When it comes to ethanol (aka E85), there’s no shortage of disagreement over its viability as a fuel source. The federal government has been promoting ethanol for.
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As if the ethanol industry weren’t busy enough staying afloat while defending itself from environmental criticism, Congressional watchdogs have presented it with one additional challenge. The Government Accountability Office said.
Jan 01, 2012 · WASHINGTON — A federal tax credit for ethanol expired on Saturday, ending an era in which the federal government provided more than $20 billion in.
Final purchasers, and in some cases, ultimate vendors of certain types of fuels may be able to claim a refund or credit for the federal excise tax that applies on the.
But unless the ethanol tax credit is eliminated, we will not know whether ethanol or some other additive is an effective, economical alternative to MTBE. Ethanol derived from corn is an alternative to MTBE — an additive derived from natural.
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Chairman Kent Conrad discussed the issue with fellow Democrats. The 45-cent-a-gallon excise tax credit for ethanol is scheduled to expire on Dec 31. So would a 54-cent-a-gallon tariff on imported ethanol and a 10-cent-a-gallon credit for.
Provided in the form of tax credits, the subsidy gives 45 cents a gallon to refiners who use ethanol, a renewable fuel additive that comes mainly from corn in the U.S. These tax breaks long have been supported as a way to reduce oil.
Gasoline containing up to 10% ethanol began a decades-long growth in the United States in the late 1970s. The demand for ethanol produced from field corn was spurred.
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