Congress ends 30-year tax subsidy for corn-based ethanol that annually cost taxpayers $6 billion.
In a late Christmas present to historic vehicle enthusiasts, congress wrapped up its 2011 season without extending the federal subsidy for ethanol and “biofuel blenders.” Trade groups do not expect this to mean the end of ethanol, according to The Detroit News report, but it is clearly a big win for taxpayers and anyone who knows what kind of damage ethanol and other biofuels can do to the engines of older vehicles.
A big thanks goes out to all those who signed the Historic Vehicle Association’s EthaNo! petition, spread the word, and took the time to contact their local representatives. This just goes to show that, when historic vehicle owners rally together, we can make a difference and our efforts can pay off.
Click here to read the full article published in The Detroit News.