CARDIN, MIKULSKI, CARPER AND COONS STATEMENT ON VOLUMETRIC ETHANOL EXCISE TAX CREDIT VOTE
WASHINGTON – Today, Sens. Ben Cardin and Barbara Mikulski (both D-MD), and Tom Carper and Chris Coons (both D-DE) released the following statement after the Senate procedural vote on the amendment to repeal the Volumetric Ethanol Excise Tax Credit:
"At a time when high gas and corn prices are hurting many people and businesses in Delaware and Maryland, particularly within our agriculture communities, and America is facing a massive federal deficit and debt, ending the subsidy for corn-based ethanol is long overdue. It costs U.S. taxpayers $6 billion a year.
"We voted against the Coburn amendment today because of the manner this issue was brought to the Senate floor. We have been assured by the Democratic Leadership that the Senate will vote on this issue later this week, allowing us to consider and debate the substance of this important policy decision. We look forward to that vote and remain committed to supporting the growth of an advanced biofuels industry and other alternative energy sources in our country that provide our families, farmers and maritime economy with the relief that they need."
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