IHS Chemical Week

Proposal Would Extend Tariffs on Imported Ethanol

1:30 AM MDT | March 30, 2010 | Rebecca Coons

U.S. lawmakers have introduced a bill in the House that would extend tax credits to ethanol producers and tariffs on imported ethanol for five years. The current Volumetric Ethanol Excise Tax Credit (VEETC) is set to expire at the end of this year. According to the aides of bill-sponsors Earl Pomeroy (D., ND) and John Shimkus (R.,IL), studies by the Renewable Fuels Association (RFA; Washington) have shown that if the VEETC is allowed lapse, a flood of imported fuels would cut domestic ethanol production 38% and cost 112,000 jobs. The Renewable Fuels Reinvestment...

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