Senate Kills Wasteful Spending on Corn Ethanol Subsidies
Eliminating Tax Credit Would Be A Win for Taxpayers, the Environment
WASHINGTON (June 16, 2011) -- The 73-27 Senate vote today reflects a strong sentiment to end the wasteful $6 billion a year subsidy for corn ethanol and the tariff on imported ethanol.
This amendment, offered by Sens. Dianne Feinstein, D-Calif and Tom Coburn, R-Okla., is a part of the Economic Development Revitalization Act now under consideration on the Senate floor.
Franz Matzner, Climate and Air legislative director at the Natural Resources Defense Council, made the following statement:
"The Senate made clear today that corn ethanol's days at the public trough are numbered. To continue to subsidize corn ethanol any longer would be a repudiation of the public will."