The Senate voted today to end $6billion in subsidies for ethanol producers. As an economist, I would love to say "finally", but "the legislation isn't expected to be taken up by the House, possibly limiting the vote to symbolic significance".
The issue also confuses me, because I would guess that an effort to end the ethanol subsidy would come mostly from Republicans, but instead it came mostly from Democrats, furthering my belief that both parties do not understand how the economy works, and this is merely a politically based decision.
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