Senate Votes to End Ethanol Tax Credit

Senate Votes to End Ethanol Tax Credit


CNBC reports. Developing...

Update:

Koch brothers win.

The Senate has voted 73-27 to kill a major tax break for ethanol producers. The vote was on a Diane Feinstein amendment to an economic development bill that will end the credit of 45 cents for each gallon of ethanol that fuel blenders mix into gasoline.

Although the tax credit was only on for a very narrow specific sector of the economy, tax credits in general should not be opposed. The key to a growing economy is to expand tax credits, not remove credits already in existence.

https://www.economicpolicyjournal.com/2011/06/senate-votes-to-end-ethanol-tax-credit.html