Country Music News
Ag News
Tax Extenders Bill Passes Senate
Published Thursday, March 11, 2010 at 04:46 AM
The legislation, introduced by Lincoln, would provide an estimated 1.1-billion dollars in supplemental payments to producers who suffered crop losses in counties declared “primary” disaster areas by USDA. It also includes a clause extending the biodiesel tax incentive. If passed, the biodiesel tax incentive would, in effect, permit biodiesel producers to increase or, in some cases, resume production.
Also included is 300-million to assist specialty crop producers, 75-million in emergency loans to poultry producers, 50-million in assistance for livestock producers, 25-million in aquaculture assistance and 42-million dollars to aid first handlers of cottonseed.
Iowa Senator Chuck Grassley voted against passage of the Tax Extenders Act based on the addition of another 100-billion dollars to the federal budget deficit. He said this action - hurts economic recovery efforts and America’s financial stability for Congress to continue rampant deficit spending. Senator Grassley says, - it was irresponsible and even offensive for congressional leaders to make the extension of important renewable energy tax incentives contingent on adding to the federal budget deficit.
© 2008 The Nebraska Rural Radio Association. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
