"A deal to extend the Bush-era tax cuts also includes action on ethanol and biodiesel credits, U.S. Sen. Chuck Grassley, R-Iowa, said Tuesday.
The details aren’t clear yet, but Grassley told reporters that the ethanol and biodiesel tax credits would get a temporary extension, through 2011.
The biodiesel credit of $1 a gallon expired last year, and farm-state lawmakers have blamed the expiration for the idling of biodiesel plants.
The ethanol credit, at 45 cents per gallon, is scheduled to expire at the end of the year.
Grassley said the biodiesel credit extension also included applying it retroactively to 2010."
Republicans have already agreed to a permanent unemployment welfare system in order to extend the tax cuts for just two years. They also agreed to bring back the death tax, albeit at a lower rate. Are we now going to agree to more corn welfare for special interest groups? According to the CBO, the ethanol subsidies cost us $6 billion annually. The payroll tax cut will cost social security $120 billion and the unemployment welfare will cost $57 billion. How much more are we going to bankrupt the nation in order to make a deal with Obama on something that he is already compelled to support? Where is this deal anyway? What else is hidden in this compromise? Could Senator Kyl provide us with a hard copy?
There is currently a robust debate among conservatives whether the current tax deal is the best we could get from Obama. But don't the supporters want to see the full copy of the deal before they sign off on it? Is there any limit to the number of poison pills that the deal would contain before Republicans will oppose it? How can we blindly trust an invisible deal made with the devil that already contains extraneous details that are detrimental to this country? I guess it is all about compromise for some GOPers. To hell with the details.