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National Restaurant Association - NRA notes support for Ethanol Subsidy Repeal Act

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NRA notes support for Ethanol Subsidy Repeal Act

The National Restaurant Association continues its work to end billions of dollars in taxpayer-funded subsidies for corn-based ethanol.

In a June 23 letter to Reps. Wally Herger (R-Calif.) and Joseph Crowley (D-N.Y.), the Association -- as part of a 35-organization coalition -- noted its support for the support of the Ethanol Subsidy Repeal Act. The coalition had sent a similar letter to Senate leaders before its June 16 vote to repeal a repeal a 45-cent per gallon tax credit to blend ethanol in gasoline and end a 54-cent per gallon tariff on imported ethanol.

The letter to the House leaders noted that conventional ethanol was due to receive about $6 billion in refundable tax credits this year. Continuing to subsidize oil companies to blend ethanol – which the Renewable Fuels Standard requires them to do – is wasteful and unnecessary, it said.

"The Ethanol Subsidy Repeal Act will save U.S. taxpayers several billion dollars this year and have almost no impact on ethanol production, jobs or prices," the letter noted. "We applaud your joint leadership on this issue and look forward to working together to save billions in wasted dollars."

The NRA believes subsidies for corn-based ethanol for fuel distort the market and divert resources away from the food supply, which affects food prices. Coupled with the tariff on imports, the subsidies result is a real-life impact restaurants’ bottom lines. Food costs are one of the most important line items for restaurants, representing about 33 cents of every dollar in restaurant sales.

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