The Hill: The Senate voted 73-27 Thursday to kill a major tax break that benefits the ethanol industry, handing a political win to a bipartisan group of lawmakers that call the incentive needless and expensive. [...]
Thirty-three Republicans and 38 Democrats supported the measure along with both of the chamber's Independents, who caucus with Democrats.Isn't it amazing how financial desperation brings about such clarity? I have been hearing about ethanol since I was a little boy in grade school and it has never become a widely acceptable fuel in this country. It should have been abundantly clear decades ago that despite billion wasted on this fuel, it was going no where. Politicians were basically using this credit to buy votes and nothing else.
Fourteen Republicans and 13 Democrats voted against it. [MORE]
Yes, America needs alternative fuels, but we should trust in the free market to find it for us rather than attempt to pick winners and losers.
Via: Memeorandum
Via: The Hill