Industry groups criticize proposed ethanol tax credit extension
Story Date: 3/29/2010

 

Source:  Ann Bagel Storck, MEATINGPLACE.COM, 3/26/10

A coalition of industry groups including the American Meat Institute spoke out against a proposed bill from Rep. Earl Pomeroy (D-N.D.) that would extend ethanol tax credits until 2015, the group announced in a news release.

The current tax credits are set to expire Dec. 31. If extended, they will provide the conventional ethanol industry with $30 billion over five years, said the coalition, which comprises AMI, Friends of the Earth, the Clean Air Task Force, the Grocery Manufacturers Association, the National Council of Chain Restaurants, the Natural Resources Defense Council, Oxfam America and Taxpayers for Common Sense.

"Unfortunately, this bill continues the unfair support and protection corn-based ethanol has enjoyed for more than 30 years at the expense of the American taxpayer and the livestock and poultry producers who rely on corn for feed," J. Patrick Boyle, president and CEO of AMI, said in the release. "It's time for the corn-based ethanol industry to stop using the American taxpayers as a crutch and finally compete on its own in our free market system."

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