{"id":10545,"date":"2023-04-27T15:20:19","date_gmt":"2023-04-27T15:20:19","guid":{"rendered":"http:\/\/lonecandle.com\/?p=10545"},"modified":"2023-04-27T15:20:19","modified_gmt":"2023-04-27T15:20:19","slug":"ethanol-subsidies-could-trip-up-debt-ceiling-negotiations","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=10545","title":{"rendered":"Ethanol Subsidies Could Trip Up Debt Ceiling Negotiations"},"content":{"rendered":"\n

\n\n“”A bloc of at least eight corn belt Republicans are a hard ‘no’ on” House Speaker Kevin McCarthy’s (R\u2013Calif.) bill to raise the debt ceiling unless proposed cuts to ethanol tax credits are removed from the package, Axios <\/em>reported<\/a> Tuesday. That group reportedly includes all four members of Congress who represent Iowa and at least four other Republican lawmakers from other “corn belt” states.<\/p>\n\n\n\n

Because Republicans have a slim 222\u2013213 majority in the House, any group of five lawmakers can hold considerable leverage by threatening to vote against a bill.”<\/p>\n\n\n\n

…<\/p>\n\n\n\n

“this is yet another warning about the dangers of creating government subsidies in the first place.<\/p>\n\n\n\n

Even though they cost taxpayers<\/a> billions of dollars every year, federal ethanol subsidies and tax credits are a tiny chunk of the overall federal budget. Yet they are incredibly valuable<\/a> to the farming communities that reap those benefits\u2014and that vote to elect lawmakers who promise to keep the federal cash flowing. For the members of Congress from Iowa and other Midwestern states, voting to cut those subsidies could be a career-ending move. On the other side, there’s no significant voting block demanding the removal of ethanol subsidies\u2014even though biofuels<\/a> are expensive<\/a>, ineffective<\/a>, and bad for the environment<\/a>\u2014so the lawmakers more intensely committed to their special interests usually get what they want.”<\/p>\n\n\n\n

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Ethanol Subsidies Could Trip Up Debt Ceiling Negotiations<\/a><\/blockquote>