"The Senate on Wednesday voted in favor of a one-year extension of the ethanol tax credit and the ethanol import tariff at existing rates, despite complaints the subsidies were wasteful.
The bill will be welcomed by the struggling ethanol industry and by American farmers who supply the corn to produce the fuel that is blended into automotive gasoline.
The extension was part of a larger bill extending the Bush-era expiring personal tax cuts. The bill sailed through the Senate in a 81 to 19 vote and now goes to the House of Representatives where Democrats are still angry with President Barack Obama for making a deal with Republicans on the tax cuts.
Most House Republicans were expected to back the bill while Democrats in the chamber are becoming more resigned to passage of the $858 billion package, which is expected to boost economic growth next year but add to the budget deficit."
Tom Doggett and Charles Abbott report for Reuters December 16, 2010.
SEE ALSO:
"How About Some Liquefied Coal in Your Stocking?" (Mother Jones)
"Senate Votes To Extend Ethanol Subsidy For 2011"
Source: Reuters, 12/16/2010
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