With rising gas and food prices, ethanol subsidies are getting strict scrutiny. Many have called for the end of ethanol subsidies, and now the Senate is acting. Senators Tom Coburn and Dianne Feinstein introduced legislation that would end ethanol subsidies and repeal the tariff that is placed on foreign ethanol.
Posts tagged with: tax credit
Economies across the globe are struggling, and rising food prices are not going to make life any easier. The Acton Institute raised concern for rising food prices, especially corn, in 2007, when Ray Nothstine wrote a commentary on, and at the time, record prices for corn, resulting in revolts in Mexico due to rapidly rising prices for tortillas. The commentary brought to light unintended consequences of ethanol and its subsidy, including rising food prices.
Read more on Are Rising Food Prices a Result of the Ethanol Subsidy?…
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