Indications are that the wasteful corn ethanol tax credit may be included in a legislative deal negotiated by the Obama White House to extend tax cuts enacted under President George W. Bush. Last week the Environmental Working Group published a top ten list of reasons why Congress should allow the ethanol tax credit to expire at the end of the year. Today (Dec 9) EWG leaders weighed in on what a renewal of the tax credit will mean:
If the corn ethanol giveaway is included, this tax deal would go from ugly to coyote ugly. — EWG President Ken Cook
Members of Congress from the very same farm states and districts that with Tea Party help just ousted lawmakers engaged in wasteful spending are pushing to extend a costly handout to the corn ethanol industry that does little to reduce America’s oil use. The next thing poured into Boston Harbor may very well be barrels of corn ethanol. — EWG Senior Vice-President Craig Cox, from EWG’s Ames, Iowa office.