The Hill: Reid unveils tax plan with green provision to win liberal support

[flpoljunkie]

(Looks like Iowa's Tom Harkin, who previously railed against this tax cut deal, will now be on board. Reid has added an ethanol credit.)

Reid unveils tax plan with green provisions to win liberal support
By Alexander Bolton
12/10/10

Senate Democrats plan to move ahead with a bipartisan tax package, despite strong objections from House Democrats.

Senate Majority Leader Harry Reid (D-Nev.) unveiled a bill Thursday evening that keeps the deal between President Obama and Senate Republican Leader Mitch McConnell (Ky.) largely unchanged, but includes environmental provisions that may soothe angry liberals.

Reid has scheduled the first vote on the package for Monday. Sens. Bernie Sanders (I-Vt.) and Jim DeMint (R-S.C.) have vowed to filibuster it.

To win over wavering liberals, Reid has added an ethanol tax credit, which Sen. Tom Harkin (D-Iowa) supports, and an extension of the Section 1603 cash grant program for the renewable energy industry, which Sen. Sherrod Brown (D-Ohio) favors.

The package includes other green-energy incentives that could win support among House liberals, who are disappointed the Senate failed to take up a comprehensive energy reform and climate bill this year. They include tax credits for biodiesel and renewable diesel; energy-efficient homes; alternative fuels; and a 30-percent investment tax credit for alternative vehicle refueling properties.

Environmentalists and renewable energy trade groups applauded the extension of the grant program for renewable energy projects.

more...

http://thehill.com/blogs/e2-wire/677-e2-wire/133057-reid-unveils-tax-package-with-green-provisions-to-win-over-angry-liberals

[Laelth]

1. Ethanol is a STUPID way to generate fuel. I am not impressed. n/t

-Laelth

[Occam Bandage]

2. Corn ethanol is by no means green.

It takes almost as much energy to produce as you get by burning it. Its carbon footprint is not appreciably smaller than that of gasoline. If it weren't for Iowa's importance to the primary season, corn ethanol wouldn't even be part of the discussion.

[Oceansaway]

3. ethanol credit=free $ for farmers....nt

[blazerunner]

4. Complete clusterf%k.

Ethanol? We're going to spend more money on ethanol? Really?

[chimpymustgo]

7. Clusterfuck is right. Effing ethanol??? Welcome to DU.

[Nite Owl]

5. Senate liberals

are that cheap to buy off?

[Catherina]

6. Now they're not just tossing out crumbs, but any old crumbs. For shame. n/t

[earthside]

8. This is the kind of dealmaking crap ...

... that fueled the cynicism towards Democrats that led to the defeat in November.

There are way too many Democrats in Washington that are totally tone deaf to what is going on and being said out here in real America.

Sheesh. When the likes of Charles Krauthamer and Fox-PAC TV are blubbering over what a great deal this is ... well, that ought to tell you all you need to know.

[dgibby]

9. Great! Just 'effin' great!

More corn for cars, less to eat. The stupid, it burns!

[OHdem10]

10. Reid, if he wants to be constructive would meet with House

and Senate and move to remove that Social Security Tax Break.

I cannot believe, they do not see the Conservative move behind
this. They say it is only for a year, yeah. yeah, yeah.

As soon as Republicans take over House, they will move to
give the Employers relief from this tax.

Now put this genie back in the bottle. The SS is not getting
funded and they say it is in trouble. They have given the
Republicans their best dream. Now they can end SS and
Drive a Stake through the heart of FDR's New Deal.

And we call this a Democtatic Party.

[Clio the Leo]

11. There will always be someone unhappy with this bill...

..... we just have make ENOUGH people happy and get it passed.

[flpoljunkie]

12. Yep. Harkin is not the only Senator who wanted the ethanol subsidy, that's for sure.

Ethanol subsidies are calculated to be $7.1 billion a year. Wow!

How Taxpayers Subsidize Oil, Ethanol Industries

After extensive research, DTN concludes that oil receives more taxpayer dollar support than ethanol, but ethanol is more dependent on the subsidy dollars for survival. In this piece of a series on oil and ethanol subsidies, DTN's Todd Neeley shares the numbers and links to the sources he examined while preparing the main installments.

OMAHA (DTN) -- Answering the question, which industry gets more taxpayer support -- ethanol or oil -- is difficult. Part of answering this question is defining just what "taxpayer support" means.

In DTN's months-long research in to the subject, we determined any realistic look at support has to go beyond simple, direct government subsidies.

Industries also benefit from tax credits, incentives, publically-supported research programs and other government dollars spent outright or dollars that should have gone into the government's coffers but didn't under some credit program or another. The oil and ethanol industries both receive these types of benefits.

Tallying state, federal and other incentives exclusive to the oil industry, DTN's total comes to $17.9 billion annually. The comparable figure for incentives exclusive to ethanol is $7.1 billion. These figures do not include tax credits and other incentives that both industries share, such as the volumetric ethanol excise tax credit, also known as the blenders credit.

[Arkana]

13. ETHANOL?

Oh fuck that. Ethanol is complete crap. It doesn't do shit to alleviate the energy crisis and costs too much in resources to refine and create.