Sunday, June 19, 2011
Report: Senate approves amendment to end ethanol subsidies
Just days ago, we reported that the United States Senate rejected an amendment that would have put an end to the the $6 billion in tax breaks and subsidies for producers of corn-based ethanol. Now, we're here to convey the message that the Senate actually approved the amendment. Was our initial report inaccurate? Um, no. Tuesday's failed amendment was similar, but not identical, to the amendment that passed through the Senate on Thursday.
Yesterday, the Senate approved an amendment that could wipe out billions of dollars earmarked for the ethanol industry by voting 73-in-favor, 27-against. The amendment, if passed into law, will eliminate the 45-cent-a-gallon subsidy that the U.S. government hands out to producers of the corn-based fuel. The ethanol-related amendment that passed on Thursday will be tacked on to an economic development bill, which will likely face a tough battle in the Senate.
On a related note, the House of Representatives voted 283-in favor, 128-against to ban the United States Department of Agriculture (USDA) from dishing out funds to support the installation of E85 pumps at gas stations across the U.S., and we can expect these sorts of political exchanges to continue for a long while.
[Source: The New York Times | Image: Jan Tik - C.C. License 2.0]Read | Permalink | Email this | Comments