RE: Hunger, farmer, religious and development organizations oppose extension
of ethanol tax credits.
Not exact matches
A
tax credit buoyed
ethanol to about 4 percent
of Minnesota's gasoline supply.
This wrong - headed policy, pushed by an aggressive farm lobby, gives a 51 - cent
tax credit for each gallon
of ethanol blended into gasoline.
Ed Kjaer, director
of electric transportation at Southern California Edison, argues that plug - ins represent a natural evolution
of hybrid technology, which today essentially burns gas to generate electricity... George W. Bush, the former Texan oilman, has begun talking up corn
ethanol and clean diesel and has endorsed a $ 4,000
tax credit for purchases
of hybrid cars.
Corn Plus took a chance on the
ethanol fuel market 18 years ago and apparently had a pretty decent run
of it until recently, when a number
of circumstances (not just
tax credits) changed.
It is important to note that more advanced biofuels still receive
tax support: cellulosic
ethanol receives $ 1.01 per gallon in
tax credits, but that is set to expire at the end
of this year.
Ed Kjaer, director
of electric transportation at Southern California Edison, argues that plug - ins represent a natural evolution
of hybrid technology, which today essentially burns gas to generate electricity... George W. Bush, the former Texan oilman, has begun talking up corn
ethanol and clean diesel and has endorsed a $ 4,000
tax credit for purchases
of hybrid cars.
The bill extends the Volumetric
Ethanol Excise
Tax Credit (VEETC) through 2011 at the current rate
of $ 0.45 / gallon US.
The bill also extends through 2011 the $ 0.10 / gallon producer
tax credit for small
ethanol producers producing no more 60 million gallon
of ethanol a year.
Western Biomass Energy LLC, a subsidiary
of Blue Sugars Corporation (previously KL Energy) reported the major milestone
of claiming the first cellulosic
ethanol tax credits under the RFS2 for a 20,069 gallon batch
of cellulosic
ethanol produced from bagasse (sugar cane waste) in April 2012.
Ethanol subsidies once included a high tariff and generous
tax credits, both
of which expired at the end
of 2011.
Probably because
ethanol mandates and electric car subsidies are lucrative sources
of federal grants, loans, subsidies and
tax credits for «alternative fuels» and electric cars.
At the federal level this means the
tax credits that have been in place for more than 20 years, encouraging the growth
of wind, solar,
ethanol, and other renewable energy sources.
You don't need to be a rocket scientist to understand that there are natural cycles and that they milk them to scare us so they can
tax and control us and get us to pay subsidies and allow
tax credits so they, and their contributors can get rich off
of windmills, solar panels,
ethanol and whatever schemes they have to save the world from a made up problem that does not exist.
This week's senate vote to end subsidies for
ethanol has left campaigners worried the renewables sector is next, that
tax credits and deductions will be scrapped in favour
of the Republican austerity measure to reduce the deficit.
It's now all but certain that the
ethanol tax credit will expire at the end
of the year, and the
ethanol producers continue to claim
credit for «giving it up» despite that it was obviously lost due to larger political considerations, and the fact that they lobbied initially for its extension and then eventually for a substitute which would have still funneled money into their industry.
If you look at this part
of the
tax code, many
of the energy - related
tax incentives will expire at the end
of 2011, including the section 1603 program; the
credit for energy - efficient residential retrofits; the
credit for construction
of new energy - efficient homes; the
credit for energy efficient appliances; and the incentives for alcohol fuels (mostly
ethanol), biodiesel, and renewable diesel.
George W. Bush, the former Texan oilman, has begun talking up corn
ethanol and clean diesel and has endorsed a $ 4,000
tax credit for purchases
of hybrid cars.
The dispute is over conservative support for a bill that would repeal the
ethanol tax credit, which has the effect
of raising an industry specific
tax.
In a letter to Mr. Coburn, a deputy
of Mr. Norquist writes: «Repealing the
ethanol credit is the right thing to do, but other
taxes must be reduced in the same legislation by at least this much to prevent a net
tax increase.»