Ethanol critics forcing votes on subsidies

The ethanol industry faces a pair of critical test votes in the Senate. Sen Tom Coburn, R-Okla, has forced a vote next Tuesday on ending the industry’s 45 cent per gallon subsidy, and Sen John McCain, R-Ariz, is proposing to bar the Obama administration from funding the installation of ethanol pumps at rural service stations.

“Eliminating the ethanol tax earmark and tariff would be an important step toward tackling our unsustainable debt and deficits,” said Coburn spokesman John Hart. The 45-cent subsidy already due to expire at the end of the year. Even if Coburn’s amendment doesn’t become law, it will put senators on record on the issue. Sen Chuck Grassley, R-Ia., has proposed an industry-backed plan to extend the subsidy beyond this year but slash the rate and eventually eliminate it entirely unless oil prices fall. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers