The U.S. Senate has rejected an amendment that would end $6 billion in ethanol subsidies in a 40 to 59 vote, according to reports.
The amendment, co-sponsored by democrat Dianne Feinstein of California and republican Tom Coburn of Oklahoma, was considered by supporters to be a way to reduce the country’s $1.5 trillion federal deficit. Detractors said that ending the subsidies would raise fuel prices and cut domestic production.
