6-28 IAN Wyatt Ethanol

 National Cattlemen’s Beef Association President Bill Donald recently said the U.S. Senate’s recent vote on legislation introduced by Senators Dianne Feinstein (D-Calif.) and Tom Coburn (R-Okla.) to repeal the 45-cent per gallon Volumetric Ethanol Excise Tax Credit and the 54-cent per gallon tariff on imported ethanol is a giant step toward leveling the playing field for a bushel of corn. The Feinstein amendment passed by a 73-27 vote.

“Repealing the Tax Credit and the import tariff are important steps to fully leveling the playing field for a bushel of corn. We commend the 73 U.S. Senators who supported the Feinstein/Coburn amendment,” Donald said. Here’s Idaho Cattlemens Association Executive Director Wyatt Prescott: “The repeal of the blender’s credit, the motion  that Feinstein brought, that was a large victory for us, that $.45 per gallon that is received for ethanol being blended with regular fuel was a huge driver in the corn prices that had a significant impact on cattle producers import costs so that was a big victory for us to see that amendment pass the Senate to repeal that credit and I think there was about 60 votes on that so we were very pleased with the outcome.”