06.16.2011 0

Senate Passes Vote to Repeal $6 Billion Ethanol Tax Credit

The Senate voted 73-27 today, killing a major tax break that benefits the ethanol industry. The bipartisan group of lawmakers that opposed the incentive called the tax break needless.

Many on the right and left opposed the measure for various reasons, but we opposed the subsidy of ethanol because it unfairly distorted the marketplace. If a company needs special treatment from the government to exist, it should not exist at all.

The Senate acted wisely today when they ended this practice of favoring ethanol producers over others.

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