06.16.11

Leahy Hails Senate’s ‘Watershed’ Vote To End Ethanol Tax Subsidies

[In a strong and unprecedented roll call on Thursday afternoon, the U.S. Senate voted 73 to 27 to end a major tax break for producers of ethanol.  Sen. Patrick Leahy (D-Vt.) voted for the Feinstein Amendment to kill the ethanol tax break, as did Sen. Bernie Sanders (I-Vt.).  Leahy hopes the breakthrough vote will give new impetus to an effort he also supports to end tax breaks long enjoyed by the largest oil companies.  Following are Leahy’s comments after the vote:]

 

“This vote was a watershed moment both for deficit reduction and for energy policy.  Ethanol tax subsidies now cost taxpayers more than $5 billion a year.  They have become a relic of our energy past, not our energy future.  


“What also is important about this vote is the new momentum it will give to our efforts to end outdated subsidies for the largest oil companies.  These are corporate giants that have become some of the most profitable entities on the planet.  Opponents blocked our bill just a few weeks ago.  This vote to end ethanol subsidies can help us in overcoming the intense special interest opposition to our bill to end huge tax breaks for the biggest oil firms.”

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