The $6 Billion Boondoggle that just unnecessarily raised food, feed and fuel costs for nothing, except to make some politicians feel 'greenie' good about themselves. And for Iowa Republican Senator Crassley to bring home some subsidized corn fed pork.
JUNE 16, 2011
By COREY BOLES
WASHINGTON—The Senate voted Thursday to repeal a $6 billion tax credit for ethanol producers, a move that could signal the end of some federal subsidies as part of an eventual budget and debt-ceiling compromise.
A bipartisan group of senators—40 Democrats and 33 Republicans—joined together in a 73-27 vote to support an end to the subsidy. The subsidy gives refiners a 45-cent-a-gallon tax credit for blending ethanol into gasoline and has been a factor behind higher corn prices in recent years. Sen. Chuck Grassley (R., Iowa), a longtime supporter of the credit, objected to the measure.
read on at above link.
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