Congress to Debate Ethanol Tax Credit Extension

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Energy & Environment Daily - March 24, 2010

Con­gress is about to take up leg­is­la­tion to extend the tax cred­its for ethanol pro­duc­tion and the exten­sion of the tar­iff on import­ed Brazil­ian ethanol. Both mea­sures are to assist the fledg­ling ethanol indus­try, thus sav­ing U.S. jobs and help­ing to reduce depen­dence on for­eign oil. Leg­is­la­tors may need a way to increase rev­enues from oth­er sources to pay for the esti­mat­ed cost of the cred­its — a tough sell in Con­gress these days. Most sup­port comes from corn-state rep­re­sen­ta­tives.