The coalition includes business associations, taxpayer advocates, hunger and development organizations, agricultural groups, free-market groups, religious organizations, environmental groups, budget hawks, and public interest organizations.
Conventional ethanol is subsidized with refundable tax credits worth $0.45 per gallon when it is blended into gasoline. When enacted, the legislation will save taxpayers several billion dollars per year.
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May 3, 2011
We write to express our very strong support for your bill, “The Ethanol Subsidy and Tariff Repeal Act”, which would end 30 years of tax credits for conventional ethanol and end the tariff on imported ethanol on July 1st. Conventional ethanol is due to receive some $6 billion in refundable tax credits this year. Continuing to subsidize oil companies to blend ethanol – which they are already required to do by the Renewable Fuels Standard – is wasteful and unnecessary. The Ethanol Subsidy and Tariff Repeal Act will save U.S. taxpayers several billion dollars this year and have almost no impact on ethanol production, jobs or prices. We applaud your joint leadership on this issue and look forward to working together to save billions in wasted dollars.
Action Aid USA |
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