Download: November2011_TCS_Biofuels_Industry_Political_Footprint_Report.pdf
Taxpayers for Common Sense today released a report detailing the heavily subsidized biofuels industry's political clout.
The biofuels industry has racked up a series of impressive political victories over its three decades of government support, including the continuation of significant federal tax breaks for corn ethanol, a tariff on imports, and a federal mandate for its use. Now pressed to come up with more than a trillion dollars in budget savings over the next decade or face across-the-board budget cuts, Congress has finally considered ending some of these redundant and costly programs. Yet, despite the recent uprising of small government advocates, most noticeably the tea party movement, Congress has been unable to significantly reduce federal spending on biofuels subsidies or the federal mandates distorting our energy markets. Even now, during the feverish search for budget savings, ethanol interests are making a play for new biofuels subsidies for vehicles that run mostly on corn ethanol, along with increased government investment for new ethanol blender pumps.
Taxpayers need Congress to say no to more subsidies for an industry that can stand on its own feet. Ethanol is thriving and can well afford funding the next generation biofuel without taxpayer help.
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