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MCCAIN, ETHANOL, AND THE FARM BILL

Friday, July 18, 2008
 

“But the Arizona senator says he doesn't support subsidies for the industry.

“McCain has acknowledged facing hurdles in neighboring Iowa because of his opposition to the subsidies, an issue on voters' minds in farm states.

“Former agriculture secretary Mike Johanns, who attended McCain's fundraiser Wednesday in Ashland, disagrees with McCain on ethanol subsidies. He says they're part of the reason the industry is growing.” [Associated Press]



“When asked about agricultural policy, McCain pledged to help family farmers and push for open markets for farm products. But he bluntly criticized a farm bill enacted this year when Congress overrode President Bush's veto of the legislation.

“He described it as ‘a $300 billion bloated pork barrel-laden bill’ because of subsidies for a host of industries, including ethanol.” [Associated Press]

Friday, July 11th, 2008; Aboard the “Straight Talk” Express en route Hudson, Wisconsin
“But he opposes current federal farm policy, including the recently passed farm bill that was widely praised by farm groups and Midwestern lawmakers.

“’I don’t support agricultural subsidies no matter where they are,’ he said. ‘... The farm bill, $300 billion, is something America simply can’t afford.’

“McCain said he doesn’t want to see ethanol demonized for any role it has in raising food prices, but he continues his long-standing opposition to subsidies for the corn-based renewable fuel.

“’Federal policy in my view should be to let the market work,’ he said. ‘... I went to Iowa and said it, and I’ve said it consistently, I don’t support subsidies because I think it’s been proven that it distorts the market.’” [Mankato Free Press]




McCain has been vocal in his opposition to the Farm Bill.  When talking about the Farm Bill in May, McCain said, “My friends, this bill deserves your condemnation…” He has also said that like President Bush, he would have vetoed the Farm Bill.


    * The Farm Bill supports family farmers and rural Iowa, and addresses vital rural issues like conservation, research and development, nutrition, trade and rural credit.

 


McCain has repeatedly voted against ethanol and renewable fuel standards and regularly speaks out against subsidies for ethanol.


    * According to a recent study by the Iowa Renewable Fuels Association, ethanol and biodiesel:
          o Add $12.7 billion, or about 10 percent, to Iowa GDP
          o Generate $2.9 billion of household income for Iowa households, or about $1000 per Iowan
          o Support the creation or retention of more than 96,000 jobs through the entire Iowa economy. (If two-thirds of those jobs disappeared, the unemployment rate would double.)
          o Generate nearly $790 million in state tax revenue.



McCain says that he isn't against ethanol, he just opposes subsidies and wants a free market -- but his support for subsidies to nuclear and coal belie this claim: he's just opposed to ethanol, plain and simple.  According to Bloomberg News,

“Coal producers and users would benefit under McCain's energy plan from about $30 billion of government funding for clean-coal technology research. Federal carbon caps and a system for trading emissions credits would create winners and losers depending on how pollution credits are doled out. McCain has promised, without details, to push for construction of 45 nuclear-power plants.

“’He can rant all he wants about ethanol subsidies, but he's in favor of clean-coal subsidies,’ said Jerry Taylor, a senior fellow at the free-market Cato Institute in Washington. ‘It's just a different set of handouts for a different set of industries.’


Bloomberg News also wrote:

“McCain has supported Senate efforts for similar government- subsidized development of new nuclear power plant designs. His presidential campaign's energy program calls for new nuclear plant construction, but doesn't promise taxpayer support. McCain said he would consider government ‘guarantees’ to encourage nuclear-power development, but declined to provide specifics. ‘If we have to provide some guarantees, I'm willing to do that,’ McCain said yesterday.


YouTube Video

Reuters, 5/19/08

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