Ethanol law reform could save $5.7 billion per year: GAO

Reuters
By Charles Abbott
WASHINGTON Tue Mar 1, 2011 6:31pm EST

WASHINGTON (Reuters) - Reform of U.S. ethanol incentives could save up to $5.7 billion a year, a congressional watchdog said on Tuesday as ethanol critics called on Congress to let the tax breaks expire at the end of this year.

In an examination of federal spending, the Government Accountability Office said the ethanol tax credit and a federal law requiring use of biofuels "can be duplicative ... and can result in substantial loss of revenue."

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