U.S. Senate Finance Committee (introduction of S. 520, Mar. 10, 2011)

(legislation introduced to repeal the volumetric ethanol excise tax credit; bill would save taxpayer's $6 billion annually by eliminating the $.45/gallon "blenders tax credit" utilized by blenders of ethanol; sponsors of bill called the credit "bad economic policy, bad energy policy, and bad environmental policy"; sponsors note the impact of ethanol production on the rise in food prices; sponsors note that ethanol-blended fuel is less efficient than gasoline, has increased price of corn and can cause engine damage in vehicles).