"Coalition for E85" Wants a New Tax Break for Ethanol
October 18, 2011 1:01 PM
comment(s) - last by
E85 will be much more expensive than normal fuels without a new tax credit according to the coalition
The tax rebate on ethanol fuels is set to expire at the end of this year. This will vanquish the tax credit that allowed ethanol producers in the U.S. to export as much or more of the fuel to other countries than was used in American fuel tanks. Steven Rattner stated in a piece written for the
, “Because of the subsidy, ethanol became cheaper than gasoline, and so we sent 397 million gallons of ethanol overseas last year. America is simultaneously importing costly foreign oil and subsidizing the export of its equivalent.”
exporting of ethanol
is one of the reasons the tax break on ethanol is ending.
With the deadline looming for the tax credit, a coalition is forming to get federal tax law amended to allow E85 to get a tax cut. The new group will be called the Coalition for E85 and it is specific in that it isn't out to get the tax credit back for E10. The coalition will let that tax expire with no fight from its members, but it wants the E85 blend to gain a new tax cut or the coalition warns the days of E85 might be numbered.
The blenders that make E10 fuel that is in wide use, and is a mix of 10% ethanol and 90% unleaded are getting a 4.5-cent-per-gallon tax credit. E85 is getting a credit of 38.25 cents per gallon under the Volumetric Ethanol Excise Tax Credit or VEECT. This is the tax that expires in December.
What the coalition is seeking is a change that would allow the E85 blend to receive the Alternative Fuel Credit (AFC). E85 was excluded from the AFC originally to keep it from being able to qualify for both the VEECT and the AFC credits. With the VEETC being discontinued, the makers want E85 to now get the AFC credit to allow the E85 fuel to maintain closer price parity with normal fuels for consumers that drive Flexi Fuel Vehicles. Flexi Fuel Vehicles or FFVs are able to burn regular gasoline and E85.
The coalition is trying to raise $75,000 to hire a Washington lobby group to speak on its behalf.
This article is over a month old, voting and posting comments is disabled
RE: Awww poor E85
10/19/2011 11:35:36 AM
Yep - a more capitalistic, limited government society worked so well in the 19th century. We should get right back to that!
Maybe if your name is Carnegie or Rockefeller (or Gates or Ellison today) that sounds ok - but for "the 99%" it really ain't such a great idea...
RE: Awww poor E85
10/19/2011 1:52:45 PM
Drinking the OWS Koolaid I see.
Carnegie, Rockefeller, Gates, Ellison et al are exactly what the 99% need. All of these people created wealth and not just for themselves. How many people have each of these employed in well paying jobs? Using just Microsoft as an example... how many poor oppressed workers can you find working for Microsoft? I see tens of thousands of well paid middle class employees that owe there standard of living to employment at Microsoft.
Now Marxism and socialism... how many Chinese died under Mao to generate the "wealth" of that society? How many workers in China now enjoy a lifestyle like your typical Microsoft employee (other than the ones employed by Microsoft in China)?
"Google fired a shot heard 'round the world, and now a second American company has answered the call to defend the rights of the Chinese people." -- Rep. Christopher H. Smith (R-N.J.)
Ethanol Production Used More Corn than Farmers in Past Year
October 13, 2011, 1:01 PM
Lamborghini Reveals 900hp Asterion LPI 910-4 Hybrid Hypercar Concept
October 1, 2014, 4:01 PM
Infiniti Debuts Q80 Hybrid Concept at Paris Motor Show
October 1, 2014, 10:40 AM
Ford’s Use of Aluminum Bodies to Extend to Super Duty Trucks, Chrysler Doubles Ram EcoDiesel Production
September 30, 2014, 10:59 AM
2016 Cadillac ELR to Receive "Engineering Enhancements", 2nd Gen Model Still on the Table
September 24, 2014, 1:30 PM
Google's Autonomous Vehicles Approved to Travel Any Road in California
September 22, 2014, 4:15 PM
Tesla’s Elon Musk Says that Fully Autonomous Vehicles Are Still at Least 5 Years Away
September 19, 2014, 9:48 AM
Most Popular Articles
New AT&T Mobile Share Value "Double Data" Promotion Lasts Through October
September 28, 2014, 8:32 AM
Update: Apple Releases iOS 8.0.2 Update to Make Up for Botched 8.0.1 Release
September 25, 2014, 8:19 PM
Appalling Negligence: Decade-Old Windows XPe Holes Led to Home Depot Hack
September 8, 2014, 8:58 PM
TiVo Mega Features 24TB of Storage, Can Record Three Years* Worth of TV Content
September 8, 2014, 8:45 AM
FBI Outraged That Apple, Google are Adopting Digital "Locks" to Protect Users
September 26, 2014, 1:00 PM
Latest Blog Posts
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information