Washington, DC – U.S. Senator Sheldon Whitehouse today released the following statement regarding the Senate’s vote on an amendment from Senators Dianne Feinstein (D-CA) and Tom Coburn (R-OK) which would end $3 billion in tax giveaways for ethanol production. The measure passed by a vote of 73-27.
“The corn ethanol industry, much like Big Oil, does not need taxpayer subsidies to turn a profit. The production process also poses serious environmental risks. We should instead be investing in emerging industries like wind, solar, and advanced biofuels which can reduce our dependence on foreign oil and are better for our environment.
“I was proud to vote today to put an end to billions in unnecessary federal ethanol subsidies, and look forward to working with my Senate colleagues to find better ways to invest in alternative energy.”
Whitehouse has also worked to end similar giveaways for Big Oil, cosponsoring the Close Big Oil Tax Loopholes Act earlier this year.
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