28 Dec '11, 4pm

Will Ending Tax Credits And Tariffs Increase Ethanol Use?: The end is nigh for the VEETC, also known as the corn...

Will Ending Tax Credits And Tariffs Increase Ethanol Use?: The end is nigh for the VEETC, also known as the corn...

The end is nigh for the VEETC, also known as the corn ethanol subsidy which was mandated 30 years ago as a way to reduce dependence on foriegn oil. In a rare show of bipartisanship, Congress voted to end the VEETC program…and along with it, a 54-cent-per-gallon tariff on imported ethanol. Could this be a good thing for ethanol?Depends on who you ask. Much of the American ethanol industry have already accepted the end of the tax credit , making plans to proceed without it. The truth is though, the VEETC largely benefited oil companies and corn farmers, paying out 45-cents per gallon of ethanol mixed in with gasoline . With the current political climate all about eliminating “wasteful” spending, VEETC really didn’t stand a chance thoug. Ending the program will save taxpayers about $6 billion a year, though it is estimated that the credit cost taxpayers as much as $45 billion...

Full article: http://gas2.org/2011/12/28/will-ending-tax-credits-and-ta...

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Operation Use It Up

Operation Use It Up

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