December 15, 1979
Page 36283
Mr. MUSKIE. Mr. President, removing the refundable portion of the tax credit will not undermine the effectiveness of the remaining tax credit in encouraging the use of gasohol. Total payments under the gasohol provisions will be negligible over the next 5 years. By that time incentives may not be required to make gasohol competitive in price with gasoline. Indeed, the Wall Street Journal recently reported the decision of a major corporation to move into gasohol production on a commercial basis.
Mr. President, I support the compromise amendment.