Archer Daniels Midland Company

End subsidies for corn-based ethanol

There isn't a long list of issues that unite Maryland's Benjamin L. Cardin with Oklahoma's Tom Coburn, so when the progressive Democratic U.S. senator and his conservative Republican colleague find a measure on which they agree wholeheartedly, it means something. When the two political opposites actually co-sponsor a bill — and it involves saving taxpayers $4 billion this year while simultaneously improving the environment — the next step should be unanimous consent by Congress.

But don't count on it. What the senators are proposing is an end to the lucrative tax credit that subsidizes the blending of corn-based ethanol into gasoline. It's an outrageous waste of money, particularly...

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