The National Corn Growers Association today thanked the many senators who stood up against Sen.Tom Coburn’s amendment to immediately repeal the Volumetric Ethanol Excise Tax Credit. The amendment, which needed 60 votes to pass, failed on the Senate floor with 59 votes against and only 40 votes in favor.
“We greatly appreciate the strong message senators sent Sen. Coburn today by showing him they understand the importance of the ethanol industry to rural America,” NCGA President Bart Schott, a grower from Kulm, ND, says. “This demonstrates the Senate’s lack of desire to engage in destructive policy making, especially to an industry that supports hundreds of thousands of jobs in America during a time of economic uncertainty. We also thank our many growers and supporters who called and emailed their senators about this important vote.”
If Senator Coburn’s efforts had been successful, the ethanol industry could have seen production reduced by as much as 38%. This would have significantly impacted an industry that provides and supports more than 400,000 U.S. jobs, many in rural America, during a time of economic uncertainty. The loss in ethanol production could have resulted in the shedding of approximately 112,000 of these jobs, in all sectors of the economy
“The ethanol industry has been proactive in our efforts to reform, unlike the oil and gas industry,” Schott says. “NCGA supports alternative reform options that will provide a safety net to the industry while reducing the overall cost to the federal government. We hope Congress will focus on policy initiatives such as the Ethanol Reform and Deficit Reduction Act that was introduced yesterday by Sens. John Thune and Amy Klobuchar. NCGA and its partners in the ethanol industry look forward to working constructively with Congress towards reform.”