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Bills

Congressional Legislation Details

Title as Introduced:

Ethanol Subsidy Repeal
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Bill Number:

S.871

Description:

A bill to repeal the Volumetric Ethanol Excise Tax Credit.

Bill Sponsor

Co-Sponsors:

Our Position:

We support this bill.

Dear Senator Coburn and Senator Feinstein,

On behalf of more than 1.7 million Americans for Prosperity activists in all 50 states, I write to applaud your recent introduction of S. 871, the Ethanol Subsidy and Tariff Repeal Act.

The ethanol industry currently enjoys a “triple crown” of support from the federal government: its use is mandated by law under the Renewable Fuel Standard; it is protected from foreign competition with a 54 cent import tariff alongside a 2.5 percent ad valorem tax; and a Volumetric Ethanol Excise Tax Credit that pays producers 45 cents for every gallon of ethanol they blend into gasoline. Your bill would repeal two of these measures: the tax credit that siphons nearly $6 billion from the federal Treasury each year, and the protectionist tariff that shields domestic ethanol producers facing competition from more cost-effective sugar-based ethanol from abroad.

Click here to read AFP's full Letter of Support.

Status:

Read twice and referred to the Committee on Finance.

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