"Maybe we will stop doing this damned foolishness called ethanol subsidies," said a frustrated Senator John McCain, in support of eliminating the ethanol blenders' tax credit.
WASHINGTON - In an Energy and Natural Resources Committee markup, Senate Republicans failed yesterday to eliminate the ethanol blenders' tax credit that expires at the end of the year, Congress Daily reports.
Sen. John McCain (R-AZ) expressed frustration with the subsidies, which totaled $5.2 billion last year.
"Maybe we will stop doing this damned foolishness called ethanol subsidies," McCain said. "It's one of the greatest rip-offs that takes place on the American taxpayers."
The amendment was rejected by all Democrats and Republican Senator Sam Brownback.
NACS sent a letter in support of the tax credit, acknowledging that the government's mandate to sell ethanol necessitates assistance for petroleum retailers.