Corn Ethanol Subsidies No Longer Necessary to Spur Production

CBO: Corn Ethanol Subsidies No Longer Necessary to Spur Production

A report from the non-partisan Congressional Budget Office (CBO) today the Renewable Fuel Standard, which mandates increasing use of biofuels, has encouraged investment by farmers and ethanol producers by guaranteeing a market for their product, Ellyn Ferguson writes in Congressional Quarterly. CBO found that taxpayers are spending $1.78 per gallon in subsidies to corn ethanol and $750 for each ton of avoided CO2 emissions. The CBO report led Senate Energy and Natural Resources Chairman Jeff Bingaman to served notice to lawmakers that they won't easily get an extension of the expiring ethanol blenders' tax credit and the import tariff.

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                        Renato Barbosa Pim Pereira

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