Diverse Coalition of Industry Groups Blast Senate Corn Ethanol Tax Credit

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Diverse Coalition of Industry Groups Blast Senate Corn Ethanol Tax Credit


The Senate has agreed to a tax policy package that includes a one-year extension of the Volumetric Ethanol Excise Tax Credit (VEETC) at its current level of $.45 per gallon.

In response, a diverse array of organizations representing the food industry, animal agriculture, environmental groups, and budget watchdogs -- complete list for which appears below -- issued the following statement:
“The Senate’s decision to accept a deal to extend for another year the outdated and unnecessary subsidies for the corn ethanol industry is outrageous and shortsighted.  Now it’s time for the House of Representatives - especially the Leadership and the House negotiators on the tax package - to stand up and say no to extending federal corn ethanol subsidies. The federal government should not waste another $6 billion on this needless subsidy. It is bad for the environment, food producers, farmers, and consumers. And at a time when the  budget deficit and national debt have reached a crisis level, bad for the nation’s long-term fiscal health. Enough.”

The organizations include:
American Meat Institute
Grocery Manufacturers Association
Friends of the Earth
National Taxpayers Union
Environmental Working Group
Competitive Enterprise Institute
American Frozen Food Institute
National Council of Chain Restaurants
National Chicken Council
National Meat Association
Milk Producers Council
Washington State Dairy Federation
Snack Food Association
Northwest Dairy Association
Americans for Limited Government
National Wildlife Federation
American Bakers Association
National Turkey Federation