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Keyword: coburnfeinstein

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  • Feinstein vs. Coburn-Feinstein on ethanol subsidy

    06/16/2011 8:11:52 AM PDT · by SmithL · 3 replies
    San Francisco Chronicle ^ | 6/16/11 | Debra J. Saunders
    On Tuesday, the Senate voted 40-59 against an amendment by Sen. Tom Coburn, R-Okla., to end the annual $6 billion (45 cents-per-gallon) tax subsidy for ethanol, as well as the 54 cents-per-gallon tariff on imported ethanol. Sen. Dianne Feinstein, D-Calif., was a co-author of the Volumetric Ethanol Excise Tax Credit Repeal Act. As she explained, the subsidy bestows $15 million a day "on large oil companies with no good reason" and drives up food prices. Yet Tuesday Feinstein voted against her own amendment. Feinstein explained to reporters that Senate Majority Leader Harry Reid promised her a vote on a similar...