Biz, U.S.: Amendment killing ethanol subsidies passes — but bill may not
- The best way for ethanol to survive is to stand on its own two feet, without spending something we don’t have to get something we’re going to have anyway.
- Sen. Tom Coburn • Making an argument against handing out ethanol subsidies — which cut gas prices but also cost the federal government $6 billion per year. An amendment to kill the subsidies passed both the House and Senate. In the case of the Senate, it was a straight-up bipartisan vote: 73-27. And a number of groups — including environmental groups — note that the subsidies are no longer needed because the federal government already requires refineries to mix ethanol and gasoline. However, don’t get too excited, budget hounds: The amendment is tied to an economic development bill that likely will not pass. source