On the recordJune 3, 2003
If the Senator will yield slightly further, that is precisely the point I was making--that ethanol will not be subject to excise taxes. It will require taking money from the general fund to pay for this tax and putting it into the trust fund, so that the trust fund won't be depleted as a result of the fact that ethanol is not subject to the full 18.3 cent tax. If we treat the two equally, we should subject them both to an 18.3-cent tax. If you give ethanol the subsidy, what you are forced to do--exactly what you described--is move general fund money into the trust fund to cover that loss of revenue.
Source
govinfo.gov
