Senate votes to end ethanol subsidies - Trade Only Today

Senate votes to end ethanol subsidies

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The U.S. Senate voted Thursday to eliminate a tax credit and a tariff for ethanol production, providing the strongest signal yet that Congress will curtail subsidies for corn-based biofuel.

The 73-27 vote exceeded the 60-vote threshold needed to advance the measure as part of an economic development bill. Still, the legislation is not likely to become law, although the vote indicated that it will be difficult for ethanol supporters to extend the 45-cent-a-gallon tax break and the 54-cent-a-gallon tariff beyond their scheduled Dec. 31 expiration.

Click here for a report from Bloomberg.

Click here for the perspective from Ethanol Producer Magazine.

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