WASHINGTON, DC— U.S. Senator Bob Casey (D-PA), Chairman of the Joint Economic Committee, released the following statement on the Ethanol Tax Reform and Deficit Plan:
“Government spending and waste must be cut and ethanol tax reform is a good place to start. The Ethanol Tax Reform and Deficit Reduction Plan introduced by Senators Klobuchar (D-MN) and Thune (R-SD) is bipartisan legislation that would end the existing subsidy for ethanol within a month and use the savings to reduce the deficit and to invest in more diversified renewable fuel production. The existing subsidy is costly and in the current fiscal environment something we can no longer afford. While I believe it is important to support the next generation of biofuels, this expensive subsidy simply isn’t getting us enough bang for the buck.”
###
