The ethanol blenders credit extension to create 400 jobs, at a cost of $14 mio per job

Rep Herger, who just introduced a bill to repel the tax credit for corn ethanol said that according to Iowa State University, the year extension of the ethanol blenders credit only created a little over 400 jobs in 2011, at the cost of over $14 million per job.

By contrast, the livestock industry alone is expected to lose many thousands of jobs due to higher feed costs brought on by corn ethanol policies.

Groups that oppose the ethanol tax credit include Americans for Prosperity, the American Meat Institute, Citizens Against Government Waste, Grocery Manufacturers Association, National Cattlemen’s Beef Association and dozens of others. The Senate voted 73-27 to repeal the ethanol tax credit on 16 June.

Rep. Herger said: “Ethanol subsidies are among the worst examples of special-interest politics in the government. The Government Accountability Office and the Congressional Budget Office have concluded that the ethanol tax credit is both wasteful and duplicative.