The $6 billion-a-year ethanol subsidy really will expire in a matter of days. But that may not spell the end of ethanol-based tax credits. Specifically, the $1.01-a-gallon production tax credit for cellulosic ethanol – made from switchgrass or wood chips or corn husks – is a priority for the renewable fuels industry. That production tax credit does not expire until next year, and the industry wants a five-year extension.