Sen. Carper’s Statement on the Amendment to Repeal the Volumetric Ethanol Excise Tax Credit

WASHINGTON – Today, Sen. Tom Carper (D-Del.) released the following statement after the Senate voted 73-27 in favor of the amendment to repeal the Volumetric Ethanol Excise Tax Credit:  

“Delaware families and farmers are hurting from high gas and corn prices, and our country is hurting from a ballooning federal deficit. Given these factors, it does not make sense to me that we would continue to subsidize corn-based ethanol and for months I have been working with my colleagues to find a sensible way to repeal this unnecessary tax credit. Earlier this week I demanded that the Democratic Leadership allow for an up or down vote on this important issue, and today we finally had that debate and vote. I welcomed this opportunity to support Senator Coburn and Feinstein’s amendment to end our unnecessary subsides for corn-based ethanol – also known as the Volumetric Ethanol Excise Tax Credit (VEETC) – and repeal the tariff on imported ethanol. We need to move away from our dependence on fossil fuels and foreign oil, and I will continue to work with my colleagues in the Senate to find ways that we can grow an advanced biofuels industry in our country in a way that best serves our environment, our economy and our citizens.”  

###