House and Senate pass separate measures to reduce Federal support of ethanol
In bipartisan actions, both the House of Representatives and the Senate overwhelmingly approved two separate amendments that would reduce the federal government’s support of corn-based ethanol.
The Senate approved an amendment to the Economic Development Revitalization Act introduced by Senator Diane Feinstein (D-CA) and Senator Tom Coburn (R-OK) that would fully eliminate the Volumetric Ethanol Excise Tax Credit (VEETC) and fully repeal the import tariff on foreign ethanol. The amendment passed 73-27.