Boswell Introduces Bill to Extend Tariff on Ethanol
Rep. Boswell says it's simply not the time to halt ethanol's progress when the industry is picking up speed.
Compiled by staff
Published: May 30, 2006
With all the talk about eliminating the tariff on imported ethanol, Congressman Leonard Boswell, D-Iowa, introduced a bill that would extend the foreign tariff on ethanol to the end of 2010. H.R. 5431 extends the current 54-cents-per-gallon ethanol import tariff, which expires on October 1, 2007.
"The tariff has helped America's ethanol producers succeed and it's simply not the time to halt its progress at a time when the ethanol industry is picking up speed," says Boswell.
"Representative Boswell's legislation extends the secondary tariff on ethanol through 2010," says Samantha Slater with the National Corn Growers Association. "Extending the tariff further supports our nation's growing domestic ethanol industry. A thriving domestic ethanol industry means jobs and a strong economy in rural America and nationwide."
The ethanol industry results in a net gain to U.S. taxpayers of almost $4 billion a year and improves U.S. trade balance by $2 billion annually. Furthermore, ethanol is a proven cleaner burning fuel. Ten percent ethanol blends reduce carbon monoxide better than any reformulated gasoline blend.
"I want to ensure the tools are in place so that we may continue to move forward," says Boswell.
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Tagged: ethanol, National Corn Growers Association
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