Senators Dianne Feinstein (D-CA) and Tom Coburn (R-OK) this week sent a letter to their fellow Senators reminding them that the subsidies for ethanol should expire. The letter cited the June vote (73-27) on both the 46-cents-per-gallon subsidy for blending ethanol into gasoline and the 54-cents-per-gallon tariff on ethanol imports, and reiterated that while the amendment was passed, the underlying bill was not enacted.

Senators Feinstein and Coburn stated that the subsidies are set to expire on December 31, 2011, and “should an extension of one or both of these policies be included in a legislative package prior to the end of this session, we would view it as a stark contradiction of the will of this Body.”  “We would feel an obligation to object, and we ask that you would join us in voicing objection,” the letter said.   The “Dear Colleague” letter cited a report by the U.S. International Trade Commission that finds ending the ethanol tariff would result in a $1.5 billion benefit leading to lower gas prices and would reduce our dependence on foreign oil.

The letter can be found here Feinstein-Coburn End Ethanol Subsidies Letter.