Millons Spent on Lobbying for VEETC Reform

DomesticFuel.com
Posted by Joanna Schroeder – June 21st, 2011

Last week was a crazy week in DC as several amendments to alter or kill the Volumetric Ethanol Excise Tax Credit (VEETC) were voted on by the Senate. While the first vote was in favor of ethanol (it defeated the Coburn amendment), the industry took a hit when Sen. Dianne Feinstein’s (D-CA) bill was passed, essentially killing VEETC and the tariff without a phase-out plan (but the ethanol industry doesn’t think it will pass into law). So who spent the most money to get their way on VEETC? Lobbyists against VEETC outnumbered and outspent pro-ethanol groups, according to data from First Street-CQ Press’ new policy intelligence platform.

First street followed the money dedicated to lobbying for both Senate Bill S. 520 Volumetric Ethanol Excise Tax Credit Repeal Act and House Bill H.R. 1075 Volumetric Ethanol Excise Tax Credit Repeal Act. During first quarter of this year, there were 32 lobbying firms representing 36 clients to the tune of $8,895,893.00. There were 22 lobbying firms active on the House side representing 18 clients and spent $3,645,862.08. So first quarter alone, more than $12 million was spent on lobbying for VEETC reform.

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