Tuesday, June 14, 2011

Ethanol: "Senate keeps $6B in subsidies, but 34 GOP side with Coburn" (ADM; PEIX)

Following up on this morning's "Ethanol: Senate To Vote on Subsidy Repeal Today; Grover Norquist is an Idiot (ADM; PEIX)".
From The Hill:

The Senate on Tuesday voted against killing off $6 billion in tax breaks for ethanol producers, but 34 Republicans sided against Americans for Tax Reform.

In the 40-59 vote, the Senate rejected a procedural motion to end debate on the measure sponsored by Sen. Tom Coburn, a fiscally conservative Republican from Oklahoma regarded as a deficit hawk.

But the measure was defeated largely by Democrats. Forty-five Democrats and Independent Sen. Bernie Sanders (Vt.) voted against ending debate compared to five Democrats and Independent Sen. Joe Lieberman (Conn.) who voted with Coburn.

While 34 Republicans backed Coburn, 13 Republicans, all from farm states, voted against limiting debate and moving to a final vote.

Given the breakdown, the vote may be a hollow victory for Grover Norquist and Americans for Tax Reform, which rallied against the measure....MORE