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Published on Jun 10, 2011
Paid for by: Taxpayers for Common Sense, Friends of the Earth
Friends of the Earth and Taxpayers for Common Sense aired this TV ad in New Hampshire in advance of a June 13, 2011 Republican presidential primary debate.
Taxpayers for Common Sense released a comprehensive report on the largest subsidy to corn ethanol, the Volumetric Ethanol Excise Tax Credit. The report, Big Oil, Big Corn: An In-depth Look at the Volumetric Ethanol Excise Tax Credit (VEETC), outlines the history of how we got here and the multitude of problems the $6 billion ethanol tax credit poses. The report discusses other government policies that already ensure a market for ethanol, the exploding cost of the VEETC to the taxpayers, the impact ethanol subsidies have on increasing the price of goods in other markets, and the environmental costs of ethanol production. With presidential hopefuls stumping in Iowa, ethanol has been at the top of the agenda, and candidates have widely divergent positions on the issue. It will likely continue to be at the forefront of the debate both in the race for the White House and for Congress.
After 33 years, it's time to let the ethanol industry stand on its own.
Taxpayers for Common Sense is a 501(c)(3) non-partisan budget watchdog serving as an independent voice for American taxpayers. Our mission is to achieve a government that spends taxpayer dollars responsibly and operates within its means. We work with individuals, policymakers, and the media to increase transparency, expose and eliminate wasteful and corrupt subsidies, earmarks, and corporate welfare, and hold decision makers accountable.