(Washington, DC) – Senator Richard Blumenthal (D-CT) issued the following statement today after voting for two amendments that would cut federal funding for ethanol subsidies, ending billions in taxpayer giveaways to huge corporate agribusiness interests:
“Ending the ethanol giveaway to big agribusiness is a first step toward stopping wasteful and costly special interest tax subsidies – and putting our fiscal house in order. This kind of spending cut, eliminating a sweetheart deal that costs taxpayers billions, will help reduce the debt and deficit, and responsibly rein in government’s size.”
The Coburn-Feinstein Amendment eliminates the ethanol tax credit and the tariff on imported ethanol and was adopted by a vote of 73 to 27. The McCain Amendment prohibits federal funds from being used to construct ethanol blender pumps or ethanol storage facilities, and failed by a vote of 41 to 59.
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