On July 7, Senators Dianne Feinstein (D-CA), Amy Klobuchar (D-MN), and John Thune (R-SD) proposed a bill, amid much media fanfare, to divert $1.3 billion of the money remaining for this year’s ethanol tax break towards deficit reduction. The ethanol tax subsidies are currently scheduled to expire at the end of 2011, but it has been reported that they could be ended as early as July 31.