Yesterday, the Senate voted to eliminate the $5 billion-a-year subsidy given to oil refiners for blending ethanol into gasoline. It is about damn time. It is about time we stopped subsidizing big corporations.
We should have never subsidized ethanol. Ethanol is harmful to the environment, does virtually nothing to curtail CO2 emissions and the diversion of food to ethanol production is creating starvation around the world. Even the Sierra Club argues that corn-based ethanol isn't any cleaner than gasoline. We should end all subsidies for ethanol and revoke the ethanol additive mandate. (Read more on ethanol)
The bill to end ethanol subsidy is not yet law. It has not yet passed the House and President Obama is threatening a veto if it passes. We can only hope the House will follow through and Congress with have the fortitude to stand up to the President and end an insane and wasteful program. This is a start.
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I'm so glad glad you are in favor of the elimination of subsidies of big corporations. Of course, I did note you didn't mention our subsidation of the big oil companies...please tell me you want to eliminate their tax breaks and subsidies as well.
ReplyDeleteI favor eliminating all corporate welfare, but I also think we should totally eliminate the corporate income tax.
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