Bipartisan act would cut tariffs on imported ethanol

by Bryan Salvage
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WASHINGTON — The Imported Ethanol Parity Act, S.622, was re-introduced March 17 by U.S. Senators Dianne Feinstein, D-Calif., Judd Gregg, R-N.H., Jeff Bingaman, D-N.M., Susan Collins, R-Maine, Maria Cantwell, D-Wash. and Mel Martinez, R-Fla.

The American Meat Institute stated the measure would reduce the tariffs on imported ethanol by requiring that the combined tariffs not be set higher than the ethanol blender subsidy, which is currently 45 cents. The bill would also require President Barack Obama to lower the ethanol tariff at least 11 cents per gallon within 30 days of enactment. In 2009, refineries will be required to use 10.5 billion gallons of corn based ethanol under the Renewable Fuels Standard.

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