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Bipartisan Measure to Reduce Tariffs on Imported Ethanol Introduced

Wednesday, March 24, 309

(American Meat Institute)

U.S. Senators Dianne Feinstein (D-CA), Judd Gregg (R-NH), Jeff Bingaman (D-NM), Susan Collins (R-ME), Maria Cantwell (D-WA) and Mel Martinez (R-FL) re-introduced S.622, the Imported Ethanol Parity Act, on March 17.  The measure would reduce the tariffs on imported ethanol by requiring that the combined tariffs not be set higher than the ethanol blender subsidy, which is currently 45 cents. The bill would also require the President to lower the ethanol tariff at least 11 cents per gallon within 30 days of enactment.  In 2009, refineries will be required to use 10.5 billion gallons of corn based ethanol under the Renewable Fuels Standard (RFS).

The measure was previously introduced by Senators Feinstein (D-CA) and Gregg (R-NH) and 11 other senators in the 110th Congress.

 

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