Make America Less Great: Support Ethanol Subsidies

President Donald Trump’s June 20 rally in Iowa was well attended, and after two Republican candidates won special elections the previous day to fill seats in the U.S. House of Representatives, one wonders if the low poll numbers about the country’s commander-in-chief are truly accurate.

Much of what President Trump said made sense. He’s especially right in his efforts to cut the burden of taxes and regulations in this year — that’s what’s holding us back from being a great country. But he spoke further and indicated once again that he is not yet a consistent supporter of limited government.

Talk about defending the undefendable from a free-market economics perspective.

Take his defense of corn-based ethanol, which he mentioned in his address in Iowa. It is without question that one of the most expensive and destructive environmental subsidies in the United States is the one that supports the promotion of ethanol as a fuel for vehicles in the country. Here is a bit of historical background to highlight that point.

Under the 2007 Independence and Security Act, Congress mandated that the United States use 36 billion gallons of biofuels, including corn ethanol and cellulosic biofuel, by 2022. The subsidy costs the Treasury more than $6 billion a year.

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