DOLE MULLS BILL TO EXTEND ETHANOL TAX EXEMPTION

  U.S. Senate Republican leader Robert
  Dole (R-Kan.) said he and a group of Republican lawmakers are
  considering introducing legislation to extend the ethanol tax
  exemption through the year 2000.
      Dole, addressing the National Corn Growers Association
  board, said the proposal was under consideration by a rural
  task force of Republican members of Congress and governors.
      Gasoline containing at least 10 pct ethanol now receives a
  six cents per gallon exemption from a nine cent federal excise
  tax. The exemption is to expire the end of 1992.
      Ethanol is produced primarily by a few large agribusiness
  firms including Archer Daniels Midland (ADM) and A.E. Staley.
  The tax exemption has helped bolster ethanol production despite
  a sharp drop in the prices of competing crude oil.
  

