Today the Senate rejected Sen. Tom Coburn’s (R-OK) amendment to get rid of tax breaks for ethanol. It failed on a 40 to 59 procedural vote, with senators from both parties voting to keep the subsidy.
“Eliminating the ethanol tax earmark and tariff would be a big step toward restoring fiscal sanity in Washington,” Coburn said in a statement. “Ethanol is bad economic policy, bad energy policy and bad environmental policy.” Even some conservatives opposed the measure, saying that it ended a tax break without any corresponding tax reduction.
UPDATE: Americans for Tax Reform criticizes Coburn for supporting mandated levels of ethanol.