Tax Compromise Passes Senate With Ethanol Credits

Law360, New York (December 15, 2010, 6:17 PM EST) -- The U.S. Senate approved an $858 billion compromise bill on Wednesday to extend the Bush-era tax cuts, which includes provisions extending tax credits for ethanol producers, ethanol tariffs and billions in grants for renewable energy projects.

Senators approved H.R. 4853, or the Middle Class Tax Relief Act of 2010, in an 81-19 vote, with more than a dozen Democrats voting no on the tax cut package, including Sen. Russ Feingold, D-Wis., and Sen. Jeff Bingaman, D-N.M.

The renewable energy credits are part of a bill that...
To view the full article, register now.