We will continue a $5 billion annual subsidy for ethanol even though we’re broke and it’s stupid to turn food into fuel. It doesn’t lower the cost of fuel; it, in fact, raises the price of food! It takes more energy to produce ethanol than is generated from ethanol.
Tuesday, June 14, 2011
By DAVID ESPO, Associated Press
Sen. John Thune, R-S.D., left, and Senate Minority Leader Mitch McConnell, of Kentucky, right, stand as Sen. Lindsey Graham, R-S.C., speaks to the media after their caucus luncheon on Capitol Hill Tuesday, June 14, 2011 in Washington.(AP Photo/Alex Brandon)
WASHINGTON (AP) — The Senate refused to kill a $5 billion annual subsidy for ethanol on Tuesday, backing continued government aid for a Farm Belt-based industry over deficit reduction in an era of record red ink.
The 40-59 vote, far short of the 60 needed to advance the measure, reflected regional as well as partisan differences, a split among Republicans — and anything but the final word on the issue.
"We continue to spend money that we don't have on things that we don't need," said Sen. Tom Coburn, R-Okla., a prominent deficit hawk who led the effort to eliminate the subsidy immediately.