T Murphy writes: Although the measure is not expected to become law, a senate vote 73-27 in favor of repealing ethanol subsidies and tariffs means a lot for future legislation. The White House stands opposed to changes in the subsidies or tariffs, so they will likely go untouched before they expire at the end of the year. Even so, this is a strong indication that such government support for ethanol will be reduced if not eliminated. The response to the senate vote has been mixed, from corn prices falling, to the World Bank encouraging lower food prices, to concerns over reduced funding for alternative energy, to supporters of such budget cuts.
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