Chairman of the House Agriculture Committee Collin Peterson says a cut of that size could doom the bill
The House Ways and Means Committee is considering a 20% cut in the ethanol subsidy that is otherwise set to expire this year. A committee spokesman says a reduction of the tax credit from 45¢ to 36¢/gal. was among ideas the panel is considering for a green-energy bill.
The subsidy would be extended through next year. Even though a draft of the proposal will soon be released, committee action is not expected until September.
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