WASHINGTON (Reuters) – An extension of the major U.S. ethanol subsidy “is part of the deal at the moment” in negotiations for an omnibus tax bill, but the size and lifespan of the subsidy are not set yet, a trade group said on Wednesday.
The chairman of the Senate Budget Committee told reporters ethanol “was in a separate section of things to be resolved” and there was no decision on a subsidy rate. Chairman Kent Conrad discussed the issue with fellow Democrats.
WASHINGTON (Reuters) – Tax credits for ethanol and other biofuels were among issues under debate for a sweeping tax bill, Democratic senators said on Tuesday, with ethanol subsidies due to expire in three weeks.
“There are provisions not yet included which I think are important,” said Max Baucus, chairman of the Senate’s tax-writing committee. Asked about a possible 36-cent a gallon tax credit for ethanol, Baucus said, “I don’t know yet.”
WASHINGTON, Dec 6 (Reuters) – Congress is likely to extend
the major U.S. ethanol incentive, rather than let it expire at
the end of the month, but it will cut the tax credit by 20
percent or so, an analyst and an industry spokesman said on
Mark McMinimy of Washington Research Group said the most
likely outcome was for a one-year extension of the tax credit
at 36 cents a gallon, down from the current 45 cents.
KANSAS CITY/WASHINGTON, Dec 3 (Reuters) – Mark Marquis had planned to
double the size of his Illinois ethanol plant in 2011, and was considering
expanding a Wisconsin facility his family-run firm bought into last July.
But those plans are now on hold, as Marquis and other ethanol producers
brace for the possible end of $6 billion a year in U.S. subsidies for the
alternative energy source.
WASHINGTON (Reuters) – The major U.S. ethanol incentive would be cut by 20 percent but given one more year of life in a Senate tax bill that also would revive a biodiesel tax credit that died a year ago.
The bill was “very unlikely to pass” but would be a starting point for negotiations this month on many issues including estate tax and income tax rates, said consultants Washington Research Group on Friday.
KANSAS CITY/WASHINGTON (Reuters) – Mark Marquis had planned to double the size of his Illinois ethanol plant in 2011, and was considering expanding a Wisconsin facility his family-run firm bought into last July.
But those plans are now on hold, as Marquis and other ethanol producers brace for the possible end of $6 billion a year in U.S. subsidies for the alternative energy source.
WASHINGTON (Reuters) – The House of Representatives passed on Thursday and sent to President Barack Obama a bill that boosts funding for the school lunch program by $4.5 billion through 2020 and bans “junk” food from school buildings.
Backers said it would be the first real increase in reimbursement rates for schools in 30 years and a step toward healthier meals. Obama was expected to sign the bill, which the Senate passed in August.
WASHINGTON (Reuters) – The Senate may have to vote again on a sweeping overhaul of U.S. food safety rules due to a procedural misstep, giving opponents a chance to rewrite or derail the bill, a top congressional aide said on Thursday.
The legislation, inspired by massive food recalls including last summer’s recall of half-a-billion eggs due to salmonella, seemed on a fast track to signing by President Barack Obama after the Senate passed it in a bipartisan 73-25 vote Tuesday.
WASHINGTON, Dec 1 (Reuters) – U.S. farm supports would be
cut 10 percent under a proposal made on Wednesday by a
presidential panel on balancing the budget, but the plan would
not force idled cropland back into production.
The commission recommended cuts in agriculture as part of
government-wide belt-tightening to balance the budget.
Commission members planned a vote on the plan on Friday.
WASHINGTON (Reuters) – The Senate passed the largest overhaul of the U.S. food safety system in decades on Tuesday, a response to massive recalls such as last summer’s recall of half a billion eggs in a salmonella outbreak.
The Senate voted 73-25 to pass the bill. The House of Representatives backed a different version in July 2009. With their post-election session due to end by mid-December, lawmakers have just weeks to resolve their differences and send legislation to President Barack Obama to sign into law.