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Repeal Ethanol Tariff

Jan 17, 2008 4:30 PM, P. Scott Shearer, Washington, D.C. correspondent

Sen. Charles Schumer (D-NY) has indicated he plans to introduce legislation to temporarily repeal the ethanol tariff. The reason is to make more corn available for dairy farmers and "reduce milk prices." The ethanol tariff is 54¢/gal. of imported ethanol. This issue was proposed a couple of years ago and met strong resistance in Congress at that time.