The Corner

New Bill Would Eliminate Ethanol Tax Credit

Sens. Tom Coburn (R., Okla.) and Ben Cardin (D., Md.) introduced legislation today that would take away the 45 cents per gallon tax credit ethanol blenders currently enjoy. Of course, even if that bill passes, the ethanol producers will still get a government-engineered boost from the 54 cent tariff slapped on ethanol imports and the Renewable Fuels Standard, which mandates 36 billion gallons of renewable fuels by 2022.

But, with Congress more spending-conscious than usual, this might be the time for this ethanol credit to be canned. Coburn and Cardin estimate that eliminating the credit could save $6 billion annually. They’re also touting a Government Accountability Office report released last week which said that “given the requirements of the fuel standard, the ethanol tax credit is largely unneeded today to ensure demand for domestic ethanol production.”

Also on the energy front, some on the Hill, with an eye to the rising gas prices, are hoping to re-launch a bipartisan group of lawmakers to focus on energy legislation. In 2008, a group of senators tried to compromise, working out a plan that would have created incentives to spur increased use of green energy vehicles in exchange for increased offshore drilling.

Katrina TrinkoKatrina Trinko is a political reporter for National Review. Trinko is also a member of USA TODAY’S Board of Contributors, and her work has been published in various media outlets ...

Most Popular

Elections

Bernie Is Not Normal

The most substantively outrageous presidential campaign in American history has some serious chance of success. Bernie Sanders is leading or near the top of most polls in the first two Democratic nominating states, Iowa and New Hampshire. He could plausibly win both, which would instantly transform the race ... Read More
Elections

Bernie Is Not Normal

The most substantively outrageous presidential campaign in American history has some serious chance of success. Bernie Sanders is leading or near the top of most polls in the first two Democratic nominating states, Iowa and New Hampshire. He could plausibly win both, which would instantly transform the race ... Read More
PC Culture

Women Lie Too

Elizabeth Warren says Bernie Sanders once told her that a woman couldn't win the presidency. Bernie Sanders says Elizabeth Warren is lying about the encounter. I have no idea whom to believe. Some notable people on Twitter have wondered if maybe, considering all that happened during the #MeToo movement, ... Read More
PC Culture

Women Lie Too

Elizabeth Warren says Bernie Sanders once told her that a woman couldn't win the presidency. Bernie Sanders says Elizabeth Warren is lying about the encounter. I have no idea whom to believe. Some notable people on Twitter have wondered if maybe, considering all that happened during the #MeToo movement, ... Read More
Media

Our Stupid Times, Etc.

I don’t think most people who read the news are too stupid to understand the news. I think they are too dishonest. I am frankly embarrassed that we’ve found it necessary to append a note to Zachary Evans’s report on anti-Semitism to emphasize that quoting a person to illuminate his sentiments does not ... Read More
Media

Our Stupid Times, Etc.

I don’t think most people who read the news are too stupid to understand the news. I think they are too dishonest. I am frankly embarrassed that we’ve found it necessary to append a note to Zachary Evans’s report on anti-Semitism to emphasize that quoting a person to illuminate his sentiments does not ... Read More
Elections

The Democrats Have Had This Primary Before

As of this writing, the Democratic presidential contest looks very fluid, with four candidates bunched up in Iowa and New Hampshire. But the sudden relevance of foreign policy, thanks to the confrontation with Iran, has made it look more and more like a two-person race between Joe Biden and Bernie ... Read More
Elections

The Democrats Have Had This Primary Before

As of this writing, the Democratic presidential contest looks very fluid, with four candidates bunched up in Iowa and New Hampshire. But the sudden relevance of foreign policy, thanks to the confrontation with Iran, has made it look more and more like a two-person race between Joe Biden and Bernie ... Read More