Ethanol tax credit at 45 cents in Senate tax deal bill: report

In Washington, Reuters is reporting that the current Senate tax bill will extend the ethanol tax credit at 45 cents per gallon, for one year. Meanwhile, Smithfield Foods CEO Larry Pope told Bloomberg that “It looks like the credit’s going down”. POET’s Jeff Broin said that “We can’t live without that incentive today,” while Growth Energy CEO Tom Buis said ““We would like to thank President Obama and our Congressional champions for recognizing the tremendous value of our nation becoming less dependent on foreign oil, creating jobs in America, improving our environment and strengthening our national security.” The Obama tax deal has run into stiff opposition in the House, primarily over estate tax issues, but House leadership has expressed confidence that a bill would be passed.

More on the story.