Hooray! Congress Is Finally Scaling Back Ethanol Subsidies! Except for Not

Thune and Klobuchar's bill takes the tax revenue gained from ending the VEETC (which, again, doesn't help ethanol producers), and dedicates most of the money to other ethanol subsidies, such as tax credits for small ethanol producers and for ethanol blender pumps to be installed at gas stations. The bill, of course, leaves in place the mandate, which is by far the biggest ethanol subsidy. Lobbyists for the American Coalition for Ethanol and the Renewable Fuels Association applaud the bill -- which tells you just about all you need to know.