Senate Blocks Move To End $6B In Ethanol Subsidies

Law360, New York (June 14, 2011, 5:22 PM EDT) -- The U.S. Senate shot down a measure Tuesday aimed at repealing roughly $6 billion in annual tax breaks and an import tariff supporting the nation’s producers of corn-based ethanol products.

In a 40-59 cloture vote, 13 Republicans joined nearly all the chamber’s Democrats in opposing the measure, which came in the form of an amendment to an economic development bill.

Sponsored by Sen. Tom Coburn, R-Okla., the amendment would have killed the Volumetric Ethanol Excise Tax Credit, a subsidy of 45 cents per gallon to the...
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