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Agricultural News


Senate Could Vote on Tax Bill Monday

Fri, 10 Dec 2010 16:54:15 CST

On Friday, Senate Majority Leader Harry Reid filed a motion to limit debate on the tax cuts & unemployment benefits deal. He wants a Monday afternoon vote to move the measure forward. In the meantime, Senator Bernie Sanders began a filibuster against the bill. Sanders admitted, - I am simply here to take as long as I can to explain to the American people the fact that we have got to do a lot better than this agreement provides.

Critical tax provisions for the use of ethanol are included in a Senate tax bill. The bill would extend the tax credit for ethanol use known as VEETC through 2011. It would also extend the offsetting tariff and other tax credits for ethanol infrastructure for one more year.

Renewable Fuels Association President and CEO Bob Dinneen admits - while this extension is not as long as we had hoped it is a common sense approach that will ensure American ethanol production continues to evolve and new technologies commercialized.

 

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