Press Release: Broad Coalition Opposes Ethanol Industry Proposal, Supports Real Reform

Oct 12, 2010 | 3 min read | Print Article

Today, Taxpayers for Common Sense alongside environmental groups and business associations hosted a conference call with members of the media to discuss federal subsidies for biofuel production and opposition to recent proposals regarding current corn-based ethanol subsidies.

The press release can be found below along with a statement by TCS VP Steve Ellis on the ethanol industry’s proposal for additional subsidies.

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Statement by Steve Ellis, Vice President, Taxpayers for Common Sense

“The ethanol industry is addicted to subsidies. Swapping out tax credits for infrastructure subsidies is like an alcoholic saying I’m going to give up booze and simply switch to beer. Corn ethanol is a mature industry, that has enjoyed more than $40 billion in subsidies over the years and is still benefitting from the renewable fuels mandate. It makes no sense to give them billions more in subsidies of a slightly different flavor. Shifting the tax credits from the blenders to the producers makes little difference to the taxpayers footing the bill. Providing infrastructure subsidies for blender pumps, more flex fuel vehicles and providing loan guarantees for pipelines simply institutionalizes the subsidies and locks us in to inefficient, wasteful corn ethanol for the future. The ethanol tax credit expires when the ball drops in Times Square on December 31st, it’s time for the decades long subsidy party to end. Instead of adding insult to taxpayer injury, Congress and the Administration should make the ethanol industry grow up and compete in the marketplace.”

FOR IMMEDIATE RELEASE

MEDIA ADVISORY

Broad Coalition Opposes Ethanol Industry Proposal, Supports Real Reform

On Tuesday, October 12, 2010, at 12:30 PM EDT, a diverse collection of environmental groups, business associations, and budget watchdogs will host a conference call with members of the media to discuss federal subsidies for biofuel production.

Participants also will discuss their opposition to recent proposals regarding the current subsidies for corn-based ethanol.

WHO: Steve Ellis, Taxpayers for Common Sense

J. Patrick Boyle, American Meat Institute

Section 48E: Clean Electricity Investment Tax Credit

Don Carr, Environmental Working Group

Scott Faber, Grocery Manufacturers Association

Kate McMahon, Friends of the Earth

WHAT: Media conference call to discuss reforming federal biofuel subsidies

Letter in Support of New Bill to Repeal EOR for 45Q Tax Credit

WHEN: Tuesday, October 12, 2010, 12:30 PM EDT

WHERE:

(877) 803-5699 – Toll Free