U.S. Senator Tom Coburn, M.D. (R-OK) released the following statement today regarding the Senate's plan to vote this coming Tuesday on his amendment (#436) to repeal the ethanol tax earmark and tariff. Dr. Coburn's amendment is identical to legislation (S. 871) he has introduced with Senator Dianne Feinstein (D-CA) to end the ethanol tax earmark and tariff. If enacted, Dr. Coburn's amendment would save $3 billion for the remainder of this year and $6 billion annually.
"The days of placing spending programs in the tax code and giving them holy status are over," Dr. Coburn said. "Economic conservatives and leading free-market groups like the Club for Growth understand that using the tax code to pick winners and losers kills economic growth and job creation. Today's way of doing business is a tax increase on anyone who can't hire a tax lobbyist or make large donations to special interest groups in Washington. Taxpayers are tired of this game and expect us to eliminate wasteful special interest spending in all of its forms."
"Eliminating the ethanol tax earmark and tariff would be a big step toward restoring fiscal sanity in Washington. I urge my colleagues to support my amendment on Tuesday. Ethanol is bad economic policy, bad energy policy and bad environmental policy," Dr. Coburn said.
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