WASHINGTON — A bipartisan coalition of congressmen introduced a bill last week to slow rising food prices by redirecting subsidies for gasoline refiners who use corn ethanol to the producers of “second-generation” biofuels made from waste products.
The bill, called the Affordable Food and Fuel for America Act, would phase out a $5-billion annual subsidy for gasoline refiners who blend corn ethanol into gasoline; eliminate a tariff on imported biofuels; and increase funding for the cellulosic biofuel production tax credit.
“With the cost of food rising, Congress needs to prioritize the production of second-generation fuels that do not pit our energy security needs against our food security needs,” said Rep. Joseph Crowley, D-N.Y. “In light of ethanol's fivefold growth in this decade alone, it no longer makes sense to keep giving gasoline refiners $5 billion a year in federal tax dollars to blend corn ethanol. Accelerating the development of second-generation biofuels at home and abroad will help prevent rising commodity and food prices.”
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