Senate refuses proposal to end ethanol subsidies

Earlier today, the United States Senate rejected an amendment that would have put an end to the $6 billion in tax breaks and subsidies for producers of corn-based ethanol.

The project was introduced by Senator Tom Coburn but it didn´t suceed to martial the 60 votes needed to end debate in the Senate, failing in a 40-in-favor, 59-against procedural vote as members of both parties joined in opposition to the measure.

Coburn, considered by most as a conservative Republican, framed the elimination of ethanol subsidies as a way to slash the nation’s deficit. Coburn stated:

The federal ethanol tax subsidy, currently at 45 cents a gallon, is set to expire on December 31, 2011. This failed amendment would have put an end to the subsidy almost immediately.

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