Saturday, 10th April 2010

Expiration of Ethanol Tax Incentives Would Hurt States All Across America

Expiration of Ethanol Tax Incentives Would Hurt States All Across America
Source: Renewable Fuels Association

Ethanol production is an unparalleled economic engine in hundreds of small communities all across America. But tens of thousands of the jobs ethanol helps support are in peril if Congress fails to extend key tax incentives for the use and production of ethanol, many in non-traditional ethanol producing states like California, Texas, Georgia, Colorado, and Tennessee.

According to additional research by economist John Urbanchuk, Midwestern states would be hit the hardest. However, thousands of jobs would be at stake in the West, the South, the Great Plains and the Northeast. The state by state breakdown of potential job loss resulting from a failure to extend the Volumetric Ethanol Excise Tax Credit (VEETC) and the offsetting secondary tariff on imported ethanol adds a new layer of analysis to a report Urbanchuk completed in March. In that study , he calculated a loss of 112,000 jobs nationwide and a 38% reduction in U.S ethanol production capacity if these tax incentives were allowed to expire.

+ Full Report (PDF; 153 KB)

Category:

• Business and economics (DocuTicker)
• Energy (DocuTicker)
• Government and politics (DocuTicker)
• Labor (DocuTicker)
• Taxation (DocuTicker)

Source:

• Renewable Fuels Association

Views: 288

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