
Senate passes Webb amendment to end ethanol subsidies and tariffs
Today, the Senate overwhelmingly approved Sen. Jim Webb’s amendment to eliminate the Volumetric Ethanol Excise Tax Credit and repeal the import tariff on foreign ethanol. The measure, which he co-sponsored with Senators Tom Coburn (R-Okla.) and Dianne Feinstein (D-Calif.), passed with bipartisan support in a 73-27 vote and will save taxpayers $6 billion annually. “Eliminating…