Aug. 31, 2014 SIGN IN | REGISTER

Influence of Iowa, Ethanol Industry Appears to Wane

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Sen. Chuck Grassley conceded that opposing the ethanol tax credit might not be the death knell in the 2012 Republican presidential primary as it might have been in previous caucus contests.

Sen. Jay Rockefeller (D-W.Va.), who voted to repeal the subsidy, said the success of the Coburn-Feinstein amendment has less to do with politics and more to do with a growing understanding of the problems with the government’s ethanol policy.

But at a time of extraordinary pressure on the federal budget, it has become problematic to maintain tax breaks on industries perceived to be financially successful, which is the case with ethanol.

“For a long time people have wanted to do this,” Rockefeller said. “It was sort of untouchable because there [were] so many farmers. And now that everybody is suffering, it sort of equals out the landscape, and people say: ‘Well, everybody has to share the pain.’”

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