Thursday, July 7, 2011

Deal to end 45-cent ethanol credit seen his week

Three U.S. senators working on a framework to replace the $6 billion a year ethanol tax credit with far less costly incentives could strike a deal as soon as Thursday, Senate and industry sources said.

The agreement would be a significant step toward reforms for ethanol subsidies, but would offer some assistance to the ethanol industry as it loses the lucrative benefit. "We are very close to a deal," Senator Amy Klobuchar of Minnesota, one of three senators working on the deal, said on Wednesday


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