Archive for the ‘Thanksgiving Tax’ Category

Ethanol Policy – What A Turkey

December 4, 2007

by Ernest Istook

Ethanol subsidies are raising our food prices – dubbed the “Thanksgiving Tax” because it upped the cost we paid for Thanksgiving dinner.

Turkey farmers need almost three pounds of corn for every pound of meat put on the birds. But they must outbid those who buy up the corn to make ethanol, thanks to a 51-cents-per-gallon ethanol tax credit and other federal incentives.

America paid $69 million extra for our Thanksgiving turkeys due to ethanol mandates. That’s what Joel Brandenberger of the National Turkey Federation told a Heritage Foundation audience. But it’s just a small part of what he labeled the Thanksgiving Tax.

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