Senate to Continue Consideration of Tax Cut Bill with Ethanol Extension
On December 14, 2010, the Senate is scheduled to continue its consideration of its own version of the House-and Senate-amended Airport and Airway Extension Act (H.R. 4853). Press reports indicate that this is the tax cut extension compromise bill.
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Press reports further indicate that the Senate's bill contains a provision that would extend the tariff on imported ethanol. The Renewable Fuels Association notes that the tariff on imported ethanol is scheduled to expire at the end of 2010.
The President issued a statement praising the Senate’s efforts on the bill and urged the House to act quickly when the Senate completes its work on the bill. President’s statement is available here.
(Note that on November 29, 2010, the Senate Republican Caucus vowed to block any legislative item until the Senate acted to fund the government and extend the tax cuts that expire at the end of 2010. See ITT's Online Archives or 12/02/10 news, 10120221, for BP summary.)