Coalition Applauds Senators for Efforts to End Ethanol Subsidies

July 30, 2011 08:33 AM
 

Livestock and poultry groups commend senators for asking Senate leadership to terminate the Volumetric Ethanol Excise Tax Credit and tariff on imported ethanol as soon as possible.

Source: National Meat Association/Joint Release

A coalition of livestock and poultry groups released a statement yesterday commending Senators Jim Webb, D-Va., and Tom Coburn, R-Okla., along with 12 of their colleagues, for asking Senate leadership to terminate the Volumetric Ethanol Excise Tax Credit (VEETC) and tariff on imported ethanol as soon as possible.

“The 73-27 Senate vote on June 16 made it clear that there was no further need for the VEETC or import tariff,” the statement said. “Unfortunately, the current compromise continues providing taxpayer support for corn-based ethanol. That money would be better spent reducing the deficit or encouraging the development of energy sources that do not compete with animal agriculture feed needs.

“We appreciate the work done by Sen. Dianne Feinstein, D-Calif., in her effort to end the VEETC and tariff.  However, this is not the time to create yet another support for an industry that should be able to stand on its own two feet.”

Joining the statement were: American Meat Institute, California Dairies, Inc., National Cattlemen’s Beef Association, National Chicken Council, National Meat Association, National Pork Producers Council, and National Turkey Federation.

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