Law360, New York (June 12, 2009) -- Senate Finance Committee Chairman Max Baucus, D-Mont., and ranking member Sen. Chuck Grassley, R-Iowa, have proposed to close what lawmakers and activists call a billion-dollar tax loophole for the paper industry by eliminating paper producers' eligibility for a tax credit aimed at promoting the use of biomass-based fuel.
The lawmakers on Friday introduced a legislative staff draft proposal that would clarify the fuels that qualify for the alternative fuels tax credit and eliminate fuel derived from paper and...
