Bipartisan Groups Want to End Ethanol Subsidy and Save Taxpayers Billions

Reuters
By Elizabeth McGowan at SolveClimate
Mon Dec 6, 2010 10:50am EST

A diverse coalition of organizations and lawmakers say the ethanol subsidy is fiscally irresponsible and environmentally unwise.

WASHINGTON— It’s a rare day when somebody pleads with Congress not to take action.

But that’s exactly the stand Kate McMahon, biofuels campaign coordinator for Friends of the Earth, is proposing. By not lifting a finger to renew a corn ethanol tax credit of 45 cents per gallon—which will expire at the end of this month if federal legislators choose to let it—she estimates taxpayers will reap an annual savings of roughly $6 billion.

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