Judd Gregg: “Taxpayers for Common Sense Action urges you to support Senator Judd Gregg's (R-NH) second degree amendment to the Senate…”

“Taxpayers for Common Sense Action urges you to support Senator Judd Gregg's (R-NH) second degree amendment to the Senate Finance Committee's amendment on H.R. 6. This amendment would eliminate the 54 cent per gallon tariff on imported ethanol, and it is an important first step in righting our flawed ethanol policies. The combination of ethanol tariffs and a domestic tax credit for blenders of ethanol wildly distorts the marketplace, artificially propping up a narrow sector of the farm economy and stiffing consumers in the process. The Gregg amendment opens U.S. markets to additional sources of ethanol that would lower domestic prices. Two Iowa State University economists estimate that removing the existing ethanol duties would reduce the domestic price of ethanol by 13.6 percent. Taken one step further, if the blender's tax credit were also repealed, the domestic price of ethanol would drop by a total of 18.4 percent, according to their estimations.”