Republican Sen. Tom Coburn of Oklahoma, right, says he has the votes needed to pass legislation in the Senate that would repeal the federal tax credit for ethanol. The vote, set for Tuesday, will be on "an amendment to unrelated legislation that is not expected to pass," but a vote to kill the ethanol credit would be "a signficant break with more than two decades of GOP tax orthodoxy, which prohibits increasing revenue by any means other than economic growth," reports Lori Montgomery of The Washington Post.
"Coburn has argued that Republicans must abandon that orthodoxy to forge a compromise with Democrats on a viable plan to rein in the spiraling national debt," Montgomery writes, noting that the no-tax pledge signed by almost all congressional Republicans casts such a vote as a tax increase. Coburn told her, "I don’t think this is a tax increase. This is stupidity at its height. If you vote to give the richest oil companies in this country $3 billion between now and the end of December, then you don’t get it. You are absolutely confused about what the problems are in this country." (Read more)