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Bill introduced in House to extend foreign tariff on ethanol

Congressman Leonard Boswell (D-IA) today introduced a bill in the House of Representatives that would extend the foreign tariff on ethanol to the end of 2010.

The bill, H.R. 5431, extends the current 54-cents-per-gallon ethanol import tariff, which is set to expire October 1, 2007.

"The tariff has helped America's ethanol producers succeed and it's simply not the time to halt its progress at a time when the ethanol industry is picking up speed," Boswell said in a statement today.

"Extending the tariff further supports our nation's growing domestic ethanol industry," said Samantha Slater with the National Corn Growers Association. "A thriving domestic ethanol industry means jobs and a strong economy in rural America and nationwide."

The ethanol industry results in a net gain to U.S. taxpayers of almost $4 billion a year and improves U.S. trade balance by $2 billion annually, according to Boswell. "Ethanol is creating a brighter future for Iowa farmers, and I want to ensure the tools are in place so that we may continue to move forward," he said.

Congressman Leonard Boswell (D-IA) today introduced a bill in the House of Representatives that would extend the foreign tariff on ethanol to the end of 2010.

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