House OK’s tax extenders bill, but Senate can’t act until June 7<
By Jon H. Harsch
© Copyright Agri-Pulse Communications, Inc.
Democrats insisted instead that the bill’s added taxes simply correct
“loopholes” which encourage
The bill would re-activate tax breaks for biofuels which expired last December, to extend the breaks through the end of this year. The biodiesel industry has been especially hard hit by the delay in extending federal help. But the help still is promised, not delivered. That’s because the Senate has adjourned for the Memorial Day recess. So the earliest that the Senate can act on the bill is the week of June 7 at which time Senate Majority Leader Harry Reid (D-NV) expects the Senate to amend the bill, resulting in further delay.
For coverage of Friday’s House debate on the tax extenders bill, go to: www.agri-pulse.com/20100528H3_Extenders_Delayed.asp
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