U.S. Senator Tom Coburn, M.D. (R-OK) released the following statement today after the Senate overwhelming supported an amendment offered by Senator Dianne Feinstein (D-CA) and Dr. Coburn to end the ethanol tax earmark and tariff. The Feinstein-Coburn amendment passed by a margin of 73 to 27.
"Today's vote was a major victory for taxpayers and a positive step toward a serious deficit reduction agreement, which is our only hope of averting a debt crisis. An overwhelming bipartisan majority of senators embraced pro-growth tax reform while rejecting the parochial politics that so often paralyze the Senate. The best way to reduce our crushing $14.3 trillion debt is by reducing wasteful spending a billion dollars at a time. This amendment saves taxpayers $3 billion. In light of today's lopsided vote, I urge my colleagues in the House to eliminate this wasteful earmark and tariff at their earliest opportunity," Dr. Coburn said.
On an annual basis the Feinstein-Coburn amendment would save taxpayers $6 billion. Because the year is half over, the amendment would save $3 billion.
A broad coalition of organizations on the left and right including the Club for Growth, Americans for Prosperity, Koch Industries, and the Sierra Club supported the Feinstein-Coburn amendment.