16 June 2011 19:54 [Source: ICIS news]
WASHINGTON (ICIS)--The US Senate on Thursday voted to end a $6bn (€4.26bn) annual subsidy for corn ethanol.
In a 73-27 vote the Senate approved an amendment that would kill the 45 cent/gal taxpayer subsidy for ethanol blended into the nation’s gasolines.
The amendment also would end the 54 cent/gal tariff on US imports of foreign bio-ethanol, which has long protected domestic corn ethanol producers from competition.
With the vote, the bipartisan amendment was attached to a larger bill, S-782, the Economic Development Revitalisation Act, a small-business development measure.
That legislation was expected to pass in the Senate, but approval by the US House of Representatives is not certain with the anti-ethanol measure attached.
There is strong support in the House for the ethanol subsidy, which supports ethanol production and corn farms in more than a dozen ?xml:namespace>
($1 = €0.71)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections