I'd have to vote nay. I would support a slow phase out of ethanol and an increase in other greener tech research.
There isn't much that is is less 'Green' than Ethanol...
It's certainly not a strategy for solving America's coming energy crisis. Unfortunately, America was built for car travel and the low density, even in somewhat urban and suburban areas, makes it inconvenient to create alternatives that are a part of everyday life in Europe.
I'm afraid the U.S. is in for a terrible shock sooner or later. And nobody in government takes it seriously, like most things. But everyone is always shocked when it happens.