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Diverse Coalition Responds to Senate Agreement on Corn Ethanol Tax Credit

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Washington, DC, December 10, 2010 -

The Senate has agreed to a tax policy package that includes a one-year extension of the Volumetric Ethanol Excise Tax Credit (VEETC) at its current level of $.45 per gallon. In response, organizations representing the food industry, animal agriculture, environmental groups, and budget watchdogs released the following statement:

“The Senate’s decision to accept a deal to extend for another year the outdated and unnecessary subsidies for the corn ethanol industry is outrageous and shortsighted. Now it’s time for the House of Representatives - especially the Leadership and the House negotiators on the tax package - to stand up and say no to extending federal corn ethanol subsidies. The federal government should not waste another $6 billion on this needless subsidy. It is bad for the environment, food producers, farmers, and consumers. And at a time when the budget deficit and national debt have reached a crisis level, bad for the nation’s long-term fiscal health. Enough.”

Organizations

American Meat Institute

Grocery Manufacturers Association

Friends of the Earth

National Taxpayers Union

Environmental Working Group

Competitive Enterprise Institute

American Frozen Food Institute

National Council of Chain Restaurants

National Chicken Council

National Meat Association

Milk Producers Council